Current report 54/2015
Title:
Acquisition of shares of the subsidiary Bioenergia Invest S.A.
Legal basis:
Art. 56 sec. 1 point 2 of the Act on Public Offering – current and periodical information
Message:
The Management Board of the Issuer informs that on the 23th December 2015 URSUS S.A. concluded with the company POL-MOT Holding S.A. with the seat in Warsaw the agreement of sales of shares of the Issuer’s subsidiary Bioenergia Invest S.A. with the seat in Warsaw.
On the basis of the concluded agreement the Issuer purchased 3.978.000 ordinary bearer shares of the company Bioenergia Invest S.A. of nominal value 1 PLN per share, of total nominal value 3.978.000 PLN, representing in total 36,10% of the share capital of Bioenergia Invest S.A. The Issuer purchased the shares of the company Bioenergia Invest S.A. for the total purchase price of 14.565.049,20 PLN.
Before the above-mentioned transaction of shares acquisition, the company URSUS S.A. was the majority shareholder of the company Bioenergia Invest S.A. and held 7.040.000 shares of Bioenergia Invest S.A., which represented 63,90% of its share capital and authorized to 63,90% votes at the General Meeting of the subsidiary. After the executed transaction the Issuer holds in total 100% of shares of Bioenergia Invest S.A., which represent 100% of its share capital and authorize to 100% votes at the General Meeting.
The executed transaction is a result of implementation by the Management Board of the Company of the adopted strategy concerning participation of URSUS S.A. in the widely understood agricultural sector, particularly in prospective and ecological areas, and helps to consolidate in the group the entities of relevant importance for its further development.
Bioenergia Invest S.A is one of the first and the biggest producers of agricultural biomass in Poland. The company has also international experience. Currently the company has twenty one lines for briquetting end pelleting straw and hay located in Poland in agricultural areas. Each of these lines is a mini enterprise supplying biomass for industrial purposes used in the professional energy industry. Technology of biomass production and its parameters are set according to demand defined by the biggest power plants in Poland. New production lines have efficiency up to 1.000 tons of briquette and 600 tons of pellet per month.
Biomass is one of the eldest and the most used at the moment renewable energy sources. The Polish National Renewable Energy Action Plan envisages a significant increase of production of energy from biomass till the year 2020. With regard to the above, the Issuer’s subsidiary in subsequent periods expects a significant increase in sales of biomass for energy purposes.
The legal basis of the present report is §5 sec.1 point 1 and point 3 in connection with §9 of the Regulation of the Minister of Finance dated 19 February 2009 regarding current and interim reports published by issuers of securities and the terms of finding as equivalent the information required under the laws of any non-member state (Journal of Laws, 2009 No 33, point 259 with subsequent changes).
