Brief: Unimot Estimates Additional 30 Mln Zlotys Of Adjusted EBITDA Due To Reorganisation

Unimot SA

02/08/2022 07:39

Aug 2 (Reuters) - Unimot SA  UNTP.WA :
    * SAID ON MONDAY THAT IT HAS SIGNED AGREEMENT WITH UNIT
UNIMOT
PALIWA ON TRANSFER OF COMPANY'S ORGANISED PART OF ENTERPRISE IN
EXCHANGE FOR NEW SHARES IN UNIMOT PALIWA
    * ACTIVITY OF ORGANISED PART OF ENTERPRISE IS TRADE IN
FUELS, WITH
THE EXCLUSION OF THE ACTIVITY RELATED TO FUEL TRADE WITHIN THE
DEVELOPED NETWORK OF AVIA PETROL STATIONS AND THE SEGMENT
RELATED TO TRADE IN NATURAL GAS
    * THE COMPANY HAS RECEIVED 3.3 MLN NEWLY CREATED UNIMOT
PALIWA
SHARES FOR ORGANISED PART OF ENTERPRISE
    * AFTER TRANSFERRING ORGANISED PART OF ENTERPRISE THE
COMPANY WILL
CONCENTRATE ITS ACTIVITY MAINLY ON MANAGEMENT FUNCTIONS FOR ALL
COMPANIES IN THE GROUP
    * IN CONNECTION WITH THE ACQUISITION OF 100% STAKE IN LOTOS
TERMINALE THE TRANSFER OF ORGANISED PART OF ENTERPRISE TO UNIMOT
PALIWA IS AIMED AT PREPARING THE GROUP TO TAKE OVER THE
INDEPENDENT LOGISTICS OPERATOR BUSINESS AS WELL AS A BITUMEN
PRODUCTION AND SALE BUSINESS
    * THE ULTIMATE RESULT OF THE REORGANIZATION PROCESS IS
CONCENTRATION OF LICENSED ACTIVITIES RELATED TO IMPORT OF FUELS
UNDER UNIMOT PALIWA, AND CONSEQUENTLY LIMITING THE OBLIGATION TO
MAINTAIN MANDATORY STOCK OF LIQUID FUELS BY THE GROUP IN THE
PERIOD FROM JULY 1, 2022 TO JUNE 30, 2024, WHICH REDUCES THE
COSTS OF FUEL STORAGE DURING THIS PERIOD
    * THE COMPANY ESTIMATES THAT CONCLUDING THE AGREEMENT WILL
ALLOW
THE GROUP TO GAIN ADDITIONAL ADJUSTED EBITDA IN AMOUNT OF ABOUT
30 MLN ZLOTYS 


        
 Source text for Eikon:  urn:newsml:reuters.com:*:nEM76dnB4a
 Further company coverage:  UNTP.WA  

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