Acron Group, under the announced tender offer, has made the decision to again prolong subscription for the sale of shares of the Zakłady Azotowe w Tarnowie-Mościcach S.A. by one week. Subsequently, investors can subscribe for the sale of shares until 6 July 2012.
"We are in talks with the shareholders of Azoty Tarnów regarding their participation in the tender offer. Very often during the meetings a matter of draft resolutions for the extraordinary shareholders meeting scheduled on July 14, comes out. Draft resolutions bear a risk of capital dilution for current shareholders of the company. Additionally there is no information regarding the issue price. Therefore we extend the duration of the tender offer that shareholders have more time to analyze current situation. Proposed resolutions are subject to analysis also on our side" – explains Vladimir Kantor, Vice President of the Acron Group.
Through subsidiary Norica Holding S.à r.l., Acron Group plans to buy an interest in Zakłady Azotowe w Tanowie-Mościcach S.A. totaling up to 66% of the total votes on the general shareholders’ meeting. The price offered in the tender offer is PLN36 per share. Subscription for shares will be accepted by Dom Maklerski BZ WBK S.A. and Bank Zachodni WBK S.A.