Cordia International Zrt., the 92.92% shareholder of Polnord SA, has announced a public tender offer to acquire the remaining 7,08% of shares in Polnord SA. The goal is to increase Cordia’s stake in Polnord SA to 100% of outstanding shares. The tender offer price has been set at 3.55 PLN a share in line with the requirements of the Act on Public Offering, Conditions Governing the Introduction of Financial Instruments to Organized Trading, and Public Companies, offering significant upside to the most recent market price. At the same time, Cordia has applied for an extraordinary general meeting of shareholders in Polnord SA, in order to make a decision on withdrawing the company’s shares from public trading. The move is in line with Cordia’s previous strategy to continue restructuring Polnord SA and further consolidate Cordia’s operations in Poland.
