The Board has extended the share subscription period till as late as the end of 2020 and limited the number of the shares issued

The Board has extended the share subscription period till as late as the end of 2020 and limited the number of the shares issued

The Management Board continues the process of transforming RESBUD SE into a modern holding company operating on the construction, power, and civil engineering markets and dealing also with manufacturing, logistics and delivery of materials and equipment for the construction and power industries. With this goal in mind, the Board has extended the share subscription period till as late as the end of 2020 and limited the number of the shares issued to 218,520,263.

On September 7, the Ordinary General Meeting (“OGM”) of RESBUD SE shareholders decided to raise the share capital to the maximum of 31.66 million EUR (the current amount is 19.9 million EUR) by non-cash contributions of shares in Energokomplekt OOO, Conpol sp. z o.o., and Uniwersim sp. z o.o. In return, the shareholders of the said companies will take possession of up to 218,520,263 newly issued RESBUD SE shares altogether.

The exact number of shares that will be offered to new shareholders will be determined based on the number of shares in Energokomplekt OOO, Conpol sp. z o.o. and Uniwersim sp. z o.o eventually contributed to RESBUD SE and in proportion to the estimated value of the said shares.

The original subscription period established by the OGM ended on 28 October 2020 and, by that time, there were no subscriptions for the Company shares at all. However, based on the authority granted as part of the share issuance resolution, RESBUD SE extended the share subscription period till as late as the end of 2020 on 12 November 2020. If the new shares are subscribed for within the extended deadline set by the Company’s Management Board, the subscription will be deemed valid.

The feedback we have received from investors indicates that they are still interested in buying RESBUD SE shares. The reason why they haven’t subscribed the new Company issuance was a pending trading approval due to the coronavirus pandemic, which limited international travel and hindered the work on the Universal Registration Document.

The work continues and if the subscription succeeds, the company will acquire new and valuable assets in the form of majority shares in Energokomplekt OOO, Conpol sp. z o.o., and Uniwersim sp. z o.