The draft merger plan assumes that all assets of Grupa Lotos will be transferred to Orlen in exchange for the shares that PKN Orlen will grant to Grupa Lotos shareholders. In exchange for one share of Grupa Lotos The company’s shareholders will receive 1075 shares PKN Orlen.
As added in the announcement, the number of shares granted will be a natural number, and for the unallocated fractions of the merged shares resulting from the application of the share-exchange parity, the shareholders of Grupa Lotos will receive additional payments on the terms specified in the draft merger plan.
“In connection with the merger, the company will conduct a public offering of shares issued as part of the merger, addressed to the shareholders of Grupa Lotos, for which the public offering is exempted from the obligation to prepare a prospectus, provided that the document has been prepared and made available to the public for the purposes of exclusion “- we read further.
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“As in the case of the Orlen Group’s previous acquisitions, we intend to increase the value of the combined Lotos Group by using the strengths of both entities. We will also help by collaborating with a strong partner, a world leader in the petrochemical industry and the world’s largest producer of crude oil. Further modernization and development for our business, as it increases its resistance to an increasingly unstable market environment and builds lasting value for shareholders, individual customers and local communities,” – said President Daniel Obajtek of PKN Orlen newspaper quoted in the press release.
Result of the merger of PKN Orlen and Grupa Lotosa share of the state treasury in the built-in concern It will increase to about 35 percent. Assuming the merger with PGNiG, this share will increase to about 50%, which means that the control of the newly created multi-power problem will also be strengthened.
PKN Orlen argues that the approved merger formula is the simplest and fastest solution to be used in this transaction, which will allow the rapid and complete integration of individual assets and business segments. The approved structure of the deal will also ensure better liquidity for the new group, which will enable the effective continuation of existing projects and investment in other potential areas of activity.
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