25/05/2016
Current Report No. 46/2016: KRUK S.A. acquires shares in the increased share capital of InvestCapital Malta Ltd., a subsidiary
The Management Board of KRUK S.A. (“Company”) announces that on May 25th 2016 the share capital of Malta-based InvestCapital Malta Ltd. (“InvestCapital”), KRUK S.A.’s subsidiary, was increased from PLN 387,240,000 to PLN 490,240,000, through an issue of 1,030,000 new shares with a par value of PLN 100 per share, and a total par value of PLN 103,000,000.
All the new shares were acquired by KRUK S.A. The new shares represent 21% of InvestCapital’s share capital. The carrying amount of the shares in the Company’s accounting books is PLN 100 per share.
Following the share capital increase, KRUK S.A.’s direct holding in InvestCapital amounts to 4,902,399 shares with a par value of PLN 100 per share, and a total par value of PLN 490,239,900. The total number of shares held by KRUK S.A. both directly and indirectly is 4,902,400, and their total par value is PLN 490,240,000. The shares were acquired at par value and paid for in cash. The cash contribution was financed with proceeds of bank loans and bonds. The shares will be treated as a long-term investment. The cash received by InvestCapital will be used to increase the share capital of Secapital S.a r.l.
Shares held directly by the Company represent 99.99% of the share capital and confer 100% of the voting rights at the general meeting of InvestCapital. The remaining non-voting shares are held by Secapital Polska Sp. z o.o., the Company’s wholly-owned subsidiary. The total number of shares held by the Company, both directly and indirectly, represents 100% of the share capital and confers 100% of the voting rights at the general meeting of InvestCapital.
At present, no personal links exist between the Company and InvestCapital.
The criterion based on which the acquired shares are considered significant assets is that the value of the shares exceeds 10% of the Company Group’s revenue for the last four financial quarters.
Detailed legal basis: Par. 5.1.1 of the Regulation of the Minister of Finance of February 19th 2009 on current and periodic information […]