Polimex-Mostostal submitted an application for extension of the due date to acquire funds from the issue of shares

Under the terms of the restructuring Agreement concluded in December last year between Polimex-Mostostal and its financial creditors, the Company agreed to acquire PLN 250 ​​million from the issue of shares up to 31 March this year.

Till this day Polimex-Mostostal received PLN 200 million income in this respect. The Company’s prospectus on public offering of shares was submitted to the Financial Supervision Authority. After having it approved, the Company will proceed to implement the issue of shares.

On 27 February Polimex-Mostostal turned to its financial creditors - party to the restructuring Agreement – with a proposed extension of the deadline for additional PLN 50 million to be acquired from the issue of shares until May 31, 2013.

The Company has obtained the consent of most creditors and expects that next ones will agree in the near future, so that the decision becomes binding.