1,453,571 Series T Shares were taken up in the Offering at an issue price of PLN 35 each. The Company will receive gross proceeds of PLN 50,874,985 as a result of the Offering, while the Management Board had expected to receive no less than PLN 40 million from the issue.
The successful completion of the issue of Series T Shares means that the first of the several steps mentioned in the Management Board's earlier communications-that are now well advanced and will provide the Company with finance for prospecting work on the territory of the Kazakhstan concessions-has been accomplished.

The Management Board was pleased to see that Polish open investment funds and foreign investors had taken part in the subscription, which confirmed the positive perception of the Company's strategy for the years 2010-2011 as well as the Company's oil prospecting and extraction project, and which should also contribute to stabilising the shareholding structure.

Download current report no. 95/2009