Trakcja PRKiI S.A. to Perform a Reverse Split of its Shares
On 16 October 2014, the Extraordinary General Meeting of the Company decided to perform a reverse split of the shares of Trakcja PRKiI S.A. according to the following rules:
- All the existing ordinary bearer shares of hitherto series A, C, D, E, F, G and H shall be marked as a new series A.
- The nominal value of each Company share shall be increased from PLN 0.10 to PLN 0.80.
- The reverse split of the Company shares shall be achieved by proportional reduction of the total number of Company shares from 411,196,384 to 51,399,548 by merging eight shares of the hitherto nominal value of PLN 0.10 each into one Company share of a new nominal value of PLN 0.80.
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The reverse split of the shares shall be performed while keeping unchanged the share capital of
PLN 41,119,638.40.
The Extraordinary General Meeting of the Company authorised the Management Board of the Company to perform all acts that are possible and consistent with the applicable provisions of law, and decided that any shortages caused by the reverse split shall be covered at the expense of the rights under shares held by a selected brokerage house. The Extraordinary General Meeting of the Company obliged the Company shareholders to check the status of their Company shares at securities accounts and omnibus accounts and to adjust the statuses of the Company shares at such accounts in order to minimise the risk of a failure of the reverse split of Company shares due to actual impossibility to put the resolution into practice.
The Extraordinary General Meeting of the Company authorised the Management Board of the Company to perform any necessary actual and legal acts related to the registration of the changed nominal value of the Company shares and their number with Krajowy Depozyt Papierów Wartościowych S.A. The General Meeting also authorised the Management Board to file an application with the Warsaw Stock Exchange (Giełda Papierów Wartościowych w Warszawie S.A.) for suspending trading in the Company shares in order to perform the reverse split (merger) of the Company shares in a period priorly agreed with Krajowy Depozyt Papierów Wartościowych w Warszawie S.A.
Detailed information can be found in current report no. 26/2014 placed in the Investor relations tab at the Company website www.grupatrakcja.com.
Media Information
Robert Kuczyński
communications manager
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