PKP PLK S.A. Takes Up 250 Million Shares in Trakcja S.A.
On Friday, 8 July 2022, at the headquarters of PKP Polskie Linie Kolejowe S.A., Trakcja S.A. was represented by attorney-at-law Jakub Lechowicz – President of the Management Board, General Director, and Piotr Mechecki – Vice-President of the Management Board, Technical Director, who signed a share subscription agreement with PKP PLK S.A. on behalf of the Issuer. The agreement concluded is a consequence of the Resolution adopted on 23 June this year by the Extraordinary General Meeting of Trakcja S.A., in which the shareholders decided to increase the Company’s share capital by PLN 200 million through the issue of 250 million new Series E shares.
“A milestone of the mission entrusted to the new Management Board in March of this year by the Supervisory Board has been achieved today. Today we are finalising a process of negotiations with the Investor, shareholders, financing institutions, and other stakeholders that has been in preparation for dozens of months. A process that involved a wide circle of people whose effort is difficult to overstate. Trakcja is once again becoming a Polish company and is joining the PKP PLK S.A. capital group, regaining full operability and ending a period marked by financial problems and problematic contracts.” – commented Trakcja’s President, Jakub Lechowicz, on the conclusion of the agreement.
Trakcja S.A. is one of the leading construction companies in Poland. Its core business is the comprehensive execution of works related to railway and road infrastructure in the broad sense, using a modern fleet of machinery. Trakcja Group comprises highly specialised companies, including AB Kauno Tiltai – the largest contractor of infrastructure construction projects in the Baltic states, and TorProjekt Sp. z o.o. – a design office responsible for the comprehensive design documentation of lines, junctions, railway stations, and overhead contact lines. The Group also has a modern technical base in Bieńkowice near Wrocław, capable of servicing and repairing many types of railway vehicles.
