Euvic increases its holding in Qumak SA

After almost three months from Euvic’s appearance in the shareholding of Qumak SA, the company is increasing its holding in Qumak, acquiring a part of the new issue of L-shares issued as part of a private offer. The issue included 30 million shares at the price of PLN 1 per share.

After the successful completion of the new issue, which has increased Qumak’s share capital by 30 million zloty, Euvic will not be the controlling shareholder, or even the largest shareholder of the company, but it will exceed the threshold of 10 per cent of shares. This should be absolutely sufficient for a good cooperation, as Euvic has already proven many times that it has a great coalition ability and performs well in situations that require consensus. The company has successfully formed in this part of Europe a federation of IT companies that covers 11 affiliated companies.

‘Despite holidays, it was a very intensive period’– says Wojciech Wolny, President of Euvic, and since June 2017 also a Member of the Supervisory Board at Qumak SA, who acquired new shares in the last issue. – ‘The last weeks have been for us a great lesson on the stock exchange, financial institutions and business. We have met many interesting people and experienced great emotions. Qumak had a difficult moment, as the first issue failed, the negotiations with banks were hard going and we did not manage to reach an agreement with a trade investor in the construction sector. That is all past now. The company received the necessary capital and can now pursue its goals’– adds Wojciech Wolny.

‘Wojtek has infected us with his positive energy and has changed our look on numerous areas’ – says Wojciech Włodarczyk, the Chairman of the Supervisory Board at Qumak, seconded as Qumak President. – ‘Even I have forfeited half of my remuneration’– he adds laughing.

Not all problems have, of course, been eliminated, and the new Management of the company, composed, according to Euvic’s philosophy, of key employees bears additional responsibility.

‘We must initiate the sale and change the organisation, but we have plenty of resources to draw on – testimonials, 700 people in outsourcing contacts, know-how in the area of safety and the security office are only some of our foundations’ – says Wojciech Wolny.

‘I’m glad that, despite the change of the environment to a more formal one, i.e. GPW (Warsaw Stock Exchange), we have managed to maintain a team-oriented character of our operations. This has been proven by the fact that the Members of the Management Board and key employees of Euvic have acquired almost the same number of shares. It bodes well for our cooperation, which has already started’ – says Wojciech Kosiński, Vice-President of Euvic, who also acquired shares during the issue.

Euvic Group has more than 900 customers all over the world, to whom it renders services in the following areas: IT outsourcing (including the infrastructure); creating, developing and testing software, e-commerce, implementing solutions of leading manufacturers (e.g. in the area of business intelligence, cloud computing, ERP), integration of applications and IT help desk. The group is composed of 11 leading Polish IT companies. The revenues of the group companies exceeded one million zloty in the previous year (with EBIDA of 32 million). More information:

Qumak SA is a Polish IT and technology company listed at GPW since 2006. The company designs and implements ICT solutions for the private and public sector. Services offered by the company include: consulting and advisory, technical and service support and the development of IT solutions. In the previous year, the company’s revenue amounted to 424 million zloty and its net loss reached 43 million zloty. More information on Qumak can be found at: