27.08.2005
PKN ORLEN received consent of the Czech SEC to propose MTO for UNIPETROL, PARAMO and SPOLANA shares
On August 26th PKN ORLEN received from the Czech Securities Commission the consent to annpunce mandatory tender offers (MTO) for shares issued by UNIPETROL, PARAMO and SPOLANA.
The Commission has approved the applications including share prices respectively: CZK 139 per UNIPETROL share, CZK 978 per PARAMO share and CZK 155 per SPOLANA share.
The MTO announcements will be valid from the moment of their publication in newspapers as required by UNIPETROL’s Articles of Association.
PKN ORLEN intends to publish the mandatory tender offers until the end of next week. Voting rights at UNIPETROL and SPOLANA will be restored by the force of law when the MTO announcements are published.
