Work related to the financing of Trakcja PRKiI has entered its final stage. The Industrial Development Agency (Agencja Rozwoju Przemysłu, ARP) has declared its participation in the Company’s recapitalisation. The conditions for obtaining financing are the conclusion by Trakcja PRKiI of an agreement with financial institutions, the so-called Long-Term Financing Documentation, governing the terms of debt refinancing, and the fulfilment by the Company of the conditions for the disbursement of funds set out in the aforementioned Documentation.
The agreements reached by both parties also included the adoption of a resolution by the General Meeting of Trakcja PRKiI on increasing the Company’s share capital by an amount of not less than PLN 18,635,294.40 and not more than PLN 28,235,294.40, through the issuance of 10,279,909 ordinary bearer shares of series B and not less than 13,014,209 and not more than 25,014,209 ordinary registered shares of series C.
Upon acquiring a stake in Trakcja PRKiI, the Industrial Development Agency (ARP) will obtain the right to appoint and dismiss two representatives to the Company’s Supervisory Board and two Members of the Management Board responsible for audit and key clients.
