Approaching merger between Instal and Awbud

2010-08-30

The senior management of Instal Lublin issued its approval for a share capital increase and an issue of warrants conferring the right to acquire I series shares by Awbud group companies taken over by Instal, as reported by Parkiet.
It was agreed that Instal should increase its share capital by PLN 53m (€13.3m) through an issue of shares; the shares will be subsequently acquired by: Petrofox (company established by the Wuczynski family, which controls Awbud D&B and Awbud Wyroby Betonowe), BBI Capital NFI and smaller shareholders in Awbud D&B. Following the completion of the transaction, Petrofox will have more than 60% of votes at the general shareholders meeting of the enlarged group.

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