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General Meeting unanimously decided to decrease nominal value of share capital of the Company

Press Releases 5 April 2011

 

General Meeting unanimously decided to decrease nominal value of share capital of the Company

During yesterday`s General Meeting the shareholders passed unanimously the resolution on decrease of nominal value of share capital of the Company. As a result of it, GM decided unanimously also to cover fully the losses from the previous years by the value created by the decrease of the nominal value of a share from PLN 2.0 to PLN 0.75 and by the amount of “Adjustment related to restatement of the share capital” and a part of share premium reserve.

Passing this resolution enables us to close definitely the historical period of a Company connected with steel business, which resulted in several hundred million zlotys` losses to Stalexport Autostrady” – says Mieczysław Skołożyński, VP and CFO of the Company and is continuing “Thanks to this, we close this chapter of our past and open the way to effective dividend management in next years”.

Emil Wąsacz, CEO and General Director of Stalexport Autostrady said thank you to the shareholders for the result of voting. ”I would like to thank you for the unanimous passing the resolution on decrease of the capital. We realize that this is a resolution which could raise different emotions. The result of voting reflects however full shareholder`s support to the Management Board aiming at rearranging the capital structure”.

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