Brief: PKP Cargo Amends Draft Resolutions On Capital Increases For June 26 EGM

PKP Cargo SA w restrukturyzacji

Yesterday 07:14

June 24 (Reuters) - PKP Cargo PKPP.WA:
SAID ON TUESDAY THAT IT HAS APPROVED REVISED DRAFT RESOLUTIONS FOR JUNE 26 EXTRAORDINARY GENERAL MEETING (EGM)
PROPOSES CONDITIONAL CAPITAL INCREASE OF UP TO 13 MLN ZLOTYS VIA ISSUANCE OF UP TO 13 MLN SERIES M SHARES AT 12 ZLOTYS PER SHARE TO COVER SERIES X WARRANTS
PROPOSES TO ISSUE FREE SERIES X WARRANTS TO STRATEGIC SHAREHOLDER PKP ENTITLING IT TO SERIES M SHARES
UNDER PROPOSAL PKP STAKE IN COMPANY FOLLOWING EXERCISE OF WARRANTS X CANNOT EXCEED 33.34% OR FALL BELOW 25%
PROPOSES CONDITIONAL CAPITAL INCREASE OF UP TO 2 MLN ZLOTYS VIA ISSUANCE OF UP TO 2 MLN SERIES O SHARES AT 1 ZLOTY PER SHARE TO COVER SERIES Y WARRANTS FOR EMPLOYEES
PROPOSES TO ISSUE BETWEEN 75 MLN AND ABOUT 89.6 MLN SERIES N SHARES OFFERED FIRST TO EXISTING SHAREHOLDERS UNDER PRE-EMPTIVE RIGHTS
PROPOSES SERIES N ISSUE PRICE AT HIGHER OF 12 ZLOTYS OR 80% OF VOLUME-WEIGHTED AVERAGE MARKET PRICE OF 50 CONSECUTIVE TRADING DAYS ENDING DEC 16
PROPOSES THAT SERIES N SHARES NOT TAKEN UP UNDER PRE-EMPTIVE RIGHTS MAY BE ALLOCATED TO THIRD PARTIES, WITH PRICE SET THROUGH BOOKBUILDING AND SUBJECT TO THE SAME MINIMUM PRICE
        
 Source text: nEM6PRgLHa
 Further company coverage: PKPP.WA 

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