Brief: KNF approves Marvipol Development prospectus

British Automotive Holding w Upadlosci SA

08/11/2017 13:44

Nov 8 (Reuters) - MARVIPOL SA  MVPP.WA  
    * KNF (POLISH FINANCIAL SUPERVISION AUTHORITY) APPROVED ON 
TUESDAY 
PROSPECTUS CONCERNING ADMISSION TO TRADING ON REGULATED MARKET 
OF WARSAW STOCK EXCHANGE OF SERIES A AND B SHARES OF MARVIPOL 
DEVELOPMENT SA 
    * MARVIPOL  MVPP.WA  PLANS TO DIVIDE THE GROUP BY SPLITTING 
INTO 
TWO BUSINESS ENTITIES, AUTOMOTIVE ONE CALLED BRITISH AUTOMOTIVE 
HOLDING AND DEVELOPMENT ONE NAMED MARVIPOL DEVELOPMENT 
    * CEO MARIUSZ KSIAZEK SAYS THAT THIS PROCESS IS INTRODUCED 
TO 
FACILITATE THE MARKET'S FAIR VALUATION OF BOTH SEGMENTS 
    * FOR EACH MARVIPOL SHARE HELD THE SHAREHOLDERS WILL RECEIVE 
ONE 
SHARE OF MARVIPOL DEVELOPMENT 
    * VALUE OF DEVELOPMENT SEGMENT WAS ESTIMATED AT 45 PERCENT 
OF THE 
VALUE OF THE ENTIRE GROUP AND VALUE OF AUTOMOTIVE SEGMENT 
ACCOUNTS FOR THE REMAINING 55 PERCENT 
    * SHAREHOLDERS ARE TO DECIDE ON THE SPLIT ON NOV. 20  
 
     
 Source text for Eikon:  urn:newsml:reuters.com:*:nL5N1NE2MN 
 Source text: http://bit.ly/2zmmjcW 
     
 Further company coverage:  MVPP.WA   
    
 
 
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