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Resolutions regarding the issue of warrants convertible into shares and the issue of Series Q and R shares on exercise of the warrants Print E-mail
Own release   
31.07.2009
The Management Board of PETROLINVEST S.A. (the "Company") announces that on 31 July 2009:
  1. in connection with the call for a share offer placed by PROKOM Investments S.A., of which the Company informed the public in current report no. 69/2009, the Management Board passed a resolution regarding the issue of warrants convertible into shares and-as a result of the exercise of the warrants-a resolution regarding an increase of the share capital of the Company by PLN 27,789,910 through the issue of 2,778,991 ordinary series Q bearer shares of a nominal value of PLN 10 each ("Series Q Shares") and an issue price of PLN 46.0114 (subject to consent from the Chairman of the Supervisory Board),
  2. in connection with the performance of the agreement concluded with GEM Global Yield Fund, of which the Company informed the public in current report no. 40/2009, as part of the first drawdown from the agreement, the Management Board passed a resolution regarding the issue of warrants convertible into shares and-as a result of the exercise of the warrants-a resolution regarding an increase of the share capital of the Company by PLN 6,000,000 through the issue of 600,000 ordinary series R bearer shares of a nominal value of PLN 10 each ("Series R Shares") and an issue price of PLN 39.69 (subject to consent from the Chairman of the Supervisory Board).
In the Company's best interest and subject to consent from the Supervisory Board, the pre-emptive rights of the existing shareholders to Series Q Shares and Series R Shares were fully and completely excluded.

Series Q Shares will be offered in a private subscription to PROKOM Investments S.A. Payments for Series Q Shares will be made entirely by netting mutual accounts receivable/accounts payable before the date on which the share capital increase is filed with a register court, in the timeframe and manner specified in the subscription agreement for Series Q Shares. Series Q Shares will participate in dividends starting from 1 January 2009. Series Q Shares may be paid for only by cash contributions.

The Management Board will apply to have Series Q Shares admitted and introduced to regulated trading, as a result of which Series Q Shares will be dematerialised. Moreover, the Management Board will enter into an appropriate agreement with the National Depository For Securities (KDPW S.A.).

Download current report no. 70/2009