The Acron Group, under the announced tender offer, has made the decision to prolong subscription for the sale of shares of the Zakłady Azotowe w Tarnowie-Mościcach S.A. Currently investors can subscribe for the sale of shares until 16 July 2012.
-We extend the subscription period under our tender offer bid for Azoty Tarnów shares. We want the subscription period to end after the extraordinary shareholders meeting of Azoty Tarnów which is planned for July 14. Thanks to that investors will be able to take into account decisions taken on the shareholders meeting. We, as a minority shareholder, uphold our negative approach to proposed resolutions. We believe that adoption of the resolutions would be unfavorable for the shareholders. The risk of capital dilution and, in our opinion, lack of the convincing economical arguments supporting share capital increase, are some of elements which rise our concerns. In our opinion, the resolutions may lead to reduce in value of the company. Therefore we urge all the shareholders to come and to cast their vote – 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.