Sebastian Kulczyk achieved his goal.  There will be a mandatory purchase of Ciech shares

To be able to make a mandatory purchase of shares, a shareholder’s share must exceed 95%. “KI Chemistry maintains its intention to carry out a mandatory purchase of shares owned by other shareholders and then withdraw Ciech shares from stock exchange trading,” we read in the company’s press release.

Minority shareholders of Ciech sold 1,572,145 shares to KI Chemistry, representing 2.98%. The company’s capital. The total value of the concluded transactions amounted to approximately PLN 85 million. The settlement took place on October 12 and 13.

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– We are pleased to hear that as a result of the settlement of the deal, KI Chemistry’s participation in Ciech has exceeded 95%. This gives us the right to make a compulsory purchase of the remaining Ciech shares within 3 months of exceeding this limit.then take the remaining measures necessary to withdraw Ciech shares from stock exchange trading, in accordance with our previous announcements – said Dawid Jakubowicz, President of Kulczyk Investments, in the statement.

KI Chemistry added shares to Ciech’s stock several months ago. On September 13, KI Chemistry invited bids for the sale of up to 11,752,018 Ciech shares, representing approximately 22.3 percent. Company capital and votes in the General Assembly. The company paid PLN 54.25 for the paper.

Accepting bids began on September 18 and ended on September 25. As a result, it became possible to purchase 7,770,828 Ciech shares, equivalent to approximately 14.75%. capital. After these purchases, KI Chemistry already owns approximately 92.45% shares. capital – said Šić in a statement. This percentage also corresponds to the number of votes in the general meeting.

Billionaire plan for Ciich

Why does the billionaire want to withdraw Sić from the stock exchange? In KI Chemistry’s opinion, maintaining public company status limits the ability to respond quickly and flexibly to dynamically changing economic, regulatory and geopolitical conditions, disruptions in global financial and raw material markets, as well as in the company’s immediate environment. The company explained.

Sebastian Kulczyk is one of the richest Poles. In this year’s edition of the Forbes ranking, he ranked seventh with assets worth PLN 6.48 billion. Sixth place was taken by his sister Dominica, whose fortune is estimated at PLN 8.26 billion. According to Forbes, the richest Pole is Michał Sołowow with a fortune of PLN 25.85 billion.

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PAP

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