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GTC - Globe Trade Centre SA News Story

PLN6.2 -0.1  -1.6%

Last Trade - 21/09/20

Sector
Financials
Size
Mid Cap
Market Cap £615.6m
Enterprise Value £1.60bn
Revenue £153.5m
Position in Universe 53rd / 749

Lone Star fund says to continue GTC share buyback

Mon 18th May, 2015 7:47am
WARSAW, May 18 (Reuters) - Lone Star, the top shareholder in 
Warsaw-listed GTC  GTCP.WA , will continue with its share 
buyback, aiming to raise its stake to 66 percent, despite the 
lack of shareholder approval for the adjacent rights issue plan, 
it said on Monday. 
    Private equity firm Lone Star, which owns 32.5 percent of 
GTC, wanted to raise its stake in a tender call, offering 6.1 
zlotys per share.  ID:nW8N0WJ00T  
    The plan, however, hinged on shareholders approving GTC's 
long-flagged rights issue of up to 140 million new shares, which 
last month failed to win enough shareholder backing. 
 ID:nL5N0XK2S9  
    Other shareholders in GTC include local pension funds owned 
by Poland's PZU  PZU.WA , Dutch firm ING Groep  ING.AS , the 
U.K.'s Aviva  AV.L  and Polish bank BZ WBK  BZW.WA . 
 
 (Reporting by Adrian Krajewski) 
 ((adrian.krajewski@thomsonreuters.com; +48 22 653 97 09; 
Reuters Messaging: 
adrian.krajewski.thomsonreuters.com@reuters.net)) 
 
Keywords: POLAND GTC/BUYBACK
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