Polish Financial Supervision Authority approved the prospectus of Polimex-Mostostal S.A.

On Friday, 20 October 2017, the KNF - Polish Financial Supervision Authority, approved the prospectus of Polimex-Mostostal S.A. drawn up in connection with public listing of 150 million the company’s T-series shares.

 Polish Financial Supervision Authority approved the prospectus of Polimex-Mostostal S.A. 

Companies Enea, Energa, PGE and PGNiG Technologie aquired Polimex-Mostostal’s shares in January 2017.

Under the Polimex-Mostostal S.A.’s capital increase, the investors acquired 150 million shares - 37.5 million each of them. According to the investment agreement, the Company was obliged to take all necessary measures in order to allow public trading of the shares on the WSE, not later than by 31 October 2017.  Today’s KNF decision is the result of these arrangements. This is not a new issue of shares, only the consistent implementation of the decisions of the General Shareholders Meeting of December 2016 on the recapitalisation of the Company.

 -We are glad about the KNF’s decision. Along with financial support that we received from our investors, we also have obligations that we fulfil in accordance with the adopted plan. A lot of trust was placed in us and we are doing our utmost not to let down this trust.

 We are focusing on our business, improving the profitability in all areas of the Group’s activities (energy, oil, gas and petrochemicals, as well as industrial construction and production), increasing the efficiency of projects carried out, we are also concentrating on development of services.

We are working on strengthening our position among business partners in Poland and abroad.

We have professional staff, a unique experience in project implementation in the EPC formula (engineering, procurement, construction), good cooperation with technology partners, numerous references and production potential, which in combination with access to bank and insurance guarantees makes us a reliable and trustworthy Partner. Most importantly, it allows us to take part in important tenders. - says Antoni Józwowicz, the President of Polimex-Mostostal management board.

Acquiring of Polimex-Mostostal’s shares by power companies is a strategic investment from the point of view of Polish energy security.