Aviva OFE as the Company’s largest shareholder
Wednesday, 2010-03-17
As a result of acquisition of shares in Lubelski Węgiel Bogdanka S.A. settled on 9 March 2010, Aviva Otwarty Fundusz Emerytalny Aviva BZ WBK (“Aviva OFE”) increased a share in the total vote in the Company to exceed 15%.
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The Fund has informed the Company on its participation in the shareholder structure of LW Bogdanka S.A. pursuant to the obligations under Article 69.1 of the Act on public offering and conditions governing the introduction of financial instruments to organised trading and public companies of 29 July 2005.
Before the settlement of the above mentioned transactions, as at 11 March 2010 Aviva OFE held 2,914,265 shares of the Company, representing 8.57% of the Company’s share capital (issued shares) and conferring the right to 2,914,265 votes at the General Shareholders Meeting, which accounted for 8.57% of the total number of votes.
Following the conclusion and settlement of the above mentioned transactions, as at 12 March 2010, Aviva OFE held 5,553,113 shares of the Company, representing 16.33% of the Company’s share capital (the number of the issued shares) and conferring the right to 5,553,113 votes at the General Shareholders Meeting, which accounted for 16.33% of the total number of votes.
Aviva OFE has also announced that: “This is a portfolio investment. It is possible that within the next 12 months following submission of this notification, Aviva OFE will increase its share in the Company for the purpose of achieving a maximum level of safety and profitability of the open pension fund’s deposits.” Additionally, the Fund has announced that: “pursuant to the provisions of the Act on the organisation and operation of pension funds and detailed provisions issued by virtue of this Act, Aviva OFE's participation in the Company's share capital cannot exceed 20%. The fund does not exclude the option of disposing of the shares in the event of a suitable increase in value or investment risk.”
Before the settlement of the above mentioned transactions, as at 11 March 2010 Aviva OFE held 2,914,265 shares of the Company, representing 8.57% of the Company’s share capital (issued shares) and conferring the right to 2,914,265 votes at the General Shareholders Meeting, which accounted for 8.57% of the total number of votes.
Following the conclusion and settlement of the above mentioned transactions, as at 12 March 2010, Aviva OFE held 5,553,113 shares of the Company, representing 16.33% of the Company’s share capital (the number of the issued shares) and conferring the right to 5,553,113 votes at the General Shareholders Meeting, which accounted for 16.33% of the total number of votes.
Aviva OFE has also announced that: “This is a portfolio investment. It is possible that within the next 12 months following submission of this notification, Aviva OFE will increase its share in the Company for the purpose of achieving a maximum level of safety and profitability of the open pension fund’s deposits.” Additionally, the Fund has announced that: “pursuant to the provisions of the Act on the organisation and operation of pension funds and detailed provisions issued by virtue of this Act, Aviva OFE's participation in the Company's share capital cannot exceed 20%. The fund does not exclude the option of disposing of the shares in the event of a suitable increase in value or investment risk.”
