26.03.2014
Adopting a resolution on the share capital increase of the subsidiary ZRUG Zabrze SA
The Board Stalprofil SA informs that on 26 March 2014 the Annual General Meeting of the subsidiary ZRUG Zabrze SA adopted a resolution to increase the share capital by the amount of PLN 15,000,000.00, to the amount of PLN 26,950,000.00, through emissions:
a) 2 500 000 ordinary registered shares of series C, with nominal value of PLN 2 each, to be acquired by way of private placement by an existing Shareholder: Stalprofil SA
b) 5 000 000 ordinary registered shares of series D, with nominal value of PLN 2 each, to be acquired in a private placement directed to Izostal in Zawadzkie, pre-emptive rights existing Shareholder Stalprofil SA
The issue price of shares C and D is equal to their nominal value and is 2 PLN per share. Acquisition of shares C and D occurs solely by the contributions of cash to cover them.
After the capital increase through the issue of shares C and D, the shareholding structure of ZRUG Zabrze SA will be as follows: Stalprofil SA - share of votes and share capital of 69% and 63%, Izostal - share of votes and share capital of 31% and 37%.
The purpose of the share capital increase ZRUG Zabrze is:
• to supplement working capital, financing current operations of the company by the amount of 10,000,000.00 PLN,
• purchase of machinery and equipment necessary for building of pipelines of large diameters (1000 mm), with a value of 5,000,000.00 PLN.
From the second half of 2014 opportunities will appear on the gas market, providing an opportunity for further development of ZRUG Zabrze SA. In the years 2014-2017 OGP GAZ-SYSTEM SA, a company of strategic importance for Poland, responsible for the transmission of natural gas, provides for the construction of new gas pipelines with a diameter of 700 mm and 1000 mm, a length of 1.057 km and the estimated value of about 5.0 billion PLN. In addition, plans of Polska Spółka Gazownictwa Sp. z oo for the years 2014-2020 is the construction of pipelines of medium and low pressure, with a total length of 1.485 km and the estimated value of about 3.8 billion PLN. Thanks to the capital gain of the subsidiary ZRUG Zabrze SA, dealing with the construction of pipelines, Stalprofil SA Capital Group will more widely participate in the country\'s strategic investment projects.
a) 2 500 000 ordinary registered shares of series C, with nominal value of PLN 2 each, to be acquired by way of private placement by an existing Shareholder: Stalprofil SA
b) 5 000 000 ordinary registered shares of series D, with nominal value of PLN 2 each, to be acquired in a private placement directed to Izostal in Zawadzkie, pre-emptive rights existing Shareholder Stalprofil SA
The issue price of shares C and D is equal to their nominal value and is 2 PLN per share. Acquisition of shares C and D occurs solely by the contributions of cash to cover them.
After the capital increase through the issue of shares C and D, the shareholding structure of ZRUG Zabrze SA will be as follows: Stalprofil SA - share of votes and share capital of 69% and 63%, Izostal - share of votes and share capital of 31% and 37%.
The purpose of the share capital increase ZRUG Zabrze is:
• to supplement working capital, financing current operations of the company by the amount of 10,000,000.00 PLN,
• purchase of machinery and equipment necessary for building of pipelines of large diameters (1000 mm), with a value of 5,000,000.00 PLN.
From the second half of 2014 opportunities will appear on the gas market, providing an opportunity for further development of ZRUG Zabrze SA. In the years 2014-2017 OGP GAZ-SYSTEM SA, a company of strategic importance for Poland, responsible for the transmission of natural gas, provides for the construction of new gas pipelines with a diameter of 700 mm and 1000 mm, a length of 1.057 km and the estimated value of about 5.0 billion PLN. In addition, plans of Polska Spółka Gazownictwa Sp. z oo for the years 2014-2020 is the construction of pipelines of medium and low pressure, with a total length of 1.485 km and the estimated value of about 3.8 billion PLN. Thanks to the capital gain of the subsidiary ZRUG Zabrze SA, dealing with the construction of pipelines, Stalprofil SA Capital Group will more widely participate in the country\'s strategic investment projects.