The delisting of “Kernel” from the Warsaw Stock Exchange is scheduled for January 2024
8.12.2023 - 13:15
The exclusion of the “Kernel” agricultural holding from the Warsaw Stock Exchange has been extended until 2024.
Kernel Holding S.A. informs that, based on information received from the Polish Financial Supervisory Authority, the proceedings regarding the exclusion of the Company from the Warsaw Stock Exchange have been extended through the analysis of additional evidence and are expected to be completed in January 2024,” Latifundist quotes the company’s announcement to the Warsaw Stock Exchange.
This year, it became known that “Kernel” plans to leave the Warsaw Stock Exchange, since the listing in 2007 did not bring the expected benefits to the agricultural holding. Delisting became the reason for the conflict between the minorities and the board of directors of “Kernel”.
Subsequently, the shareholders of “Kernel” united to oppose Andrii Verevsky’s buyout of the company’s shares. In August, the agricultural holding decided to place shares in order to attract up to $60 million from shareholders. It was about an additional issue of 216 million shares.
As the publication notes, the company explained that this was done to reduce debt and attract additional capital, but in response, shareholders said that in this way “Kernel” is trying to dilute their share” and united to oppose it.
