Karol Szymańśki has revealed that he is a significant shareholder in the troubled Polish developer Gant, according to the business server parkiet.pl. It suspects that the recent attempt by Gant to issue PLN 300m in new shares could be back on the table. The issuance was foiled by the surprise sale by PTBS Pomorska of its 1.9 million shares to an undisclosed buyer. But parkiet suspects the transaction could be back on the table, as Szymańśki now holds 10.44 percent of the shares in the company (9.7 percent of all voting rights) and is likely to initiate changes on the company’s board of directors.
In July, Poland’s financial supervisory regulator (KNF) opened an investigation into the liquidation of Gant after a court in Wrocław ruled that the housing developer lacks sufficient capital to continue the restructuring process. The court-led bankruptcy proceedings at the end of 2013 had allowed operations to continue.
