Current report no : 30/2015
Report date : 9/4/2015
Abbreviated name : Ciech SA
Subject : Increase in the share capital of a subsidiary
Legal basis : Art. 56 section 1 point 1 of the Act on Offering - confidential information
Report :
The Management Board of Ciech S.A., with a registered office in Warsaw ("the Issuer" or "the Company") announces that on 4 September 2015, the Shareholders' Meeting was held of a subsidiary which is under the direct control of the Issuer - CIECH Soda Romania S.A. in Romania ("CSR").
The Shareholders' Meeting adopted a resolution on an increase in the share capital by the amount of RON 440,000,000 (PLN 419,804,000.00, according to the average exchange rate of the National Bank of Poland preceding the date of the Shareholders' Meeting).
An increase in the share capital of CSR shall take place through an issue of new shares. The face value of the new issue has been established at the value of RON 0.25. The taking of shares shall take place as a result of subscription addressed to the shareholders of CSR.
The main shareholder of CSR is an indirect subsidiary of the Issuer – CIECH Cerium sp. z o.o. sp.k. in Warsaw ("CIECH Cerium"), which holds 94.042% in the share capital of CSR.
The subscription shall take place in two instalments. According to the Romanian law, during the first period of the subscription, the shareholders may take shares proportionally to their current shareholding. During the second stage of subscription, the shareholders who have taken part in the first stage of the subscription, may take the shares which have not been previously taken proportionally to the number of shares taken during the first stage of subscription (maximum proportionally to their shareholdings in the company).
During the first stage of subscription, CIECH Cerium may take maximum 1,655,137,440 shares to a total face value of RON 413,784,360 (PLN 394,791,657.88, according to the average exchange rate of the National Bank of Poland preceding the date of the Shareholders' Meeting).
The main purpose of the increase in the share capital of CSR is a necessity of reducing negative capital of CSR as of the end of the calendar year, resulting from the provisions of the Romanian law.
As a result of the increase in the share capital, the share of CIECH Cerium and the indirect share of the Issuer in the share capital of CRS shall not be diluted.
Signatures of the Company’s Representatives : Maciej Tybura – President of the Management Board, Artur Osuchowski – Member of the Management Board
