MOSCOW (MRC) -- Unipetrol informs that the General Meeting of Unipetrol, held on 28 August 2018, adopted a decision on the squeeze out of all Unipetrol’s participation securities to Polski Koncern Naftowy Orlen Spolka Akcyjna, a joint stock company established and existing under the laws of the Republic of Poland, with its registered office at Chemikow 7, 09-411 Plock, Republic of Poland, as per the company's press release.
It is registered in the Register of Entrepreneurs maintained by the District Court in the Capital City of Warsaw in Warsaw, XIV Commercial Division of the National Court Register under KRS number: 0000028860 as the majority shareholder in accordance with § 375 and 382 of the Business Corporations Act.
Pursuant to this General Meeting resolution, PKN Orlen S.A. will, subject to terms set forth in this General Meeting resolution and relevant legal regulations, provide other UNIPETROL shareholders, eventually pledgees if establishing of a pledge of other shareholders? shares in Unipetrol is evidenced, a monetary consideration of CZK 380 per one UNIPETROL share.
In accordance with Section 385 of the Business Corporations Act, ownership of other shares of Unipetrol shall transfer to PKN Orlen upon lapse of one month from publication of registration of the General Meeting resolution on the squeeze out of all participation securities in the Commercial Register. Unipetrol will publish information regarding date of the publication of the Unipetrol General Meeting resolution on the squeeze out of all participation securities in the Commercial Register through a regulatory announcement.
As MRC wrote before, in April 2017, technology, engineering and project management company Neste Jacobs and refinery and petrochemical group Unipetrol have signed an agreement for Neste Jacobs to perform a comprehensive energy efficiency study of Unipetrol's Litvinov oil refinery in Czech Republic.
Unipetrol , a.s. is a group of companies operating in the petrochemical industry in the Czech Republic. In 2005 Unipetrol became a part of the PKN ORLEN Group, the largest oil processor in Central Europe. The Unipetrol Group is oriented mostly towards oil processing, fuel distribution and petrochemical production. In all of these business areas the Unipetrol Group is among the key players both in the Czech Republic and on the Central European market. The Group ranks among the leading firms in the Czech Republic in terms of its revenues, and employs almost 4,000 people.
MRC