Kernel minority shareholders have submitted a request for share buyback

Kernel Holding S.A. announced the launch of the sale of shares by minority shareholders of the majority shareholder, Namsen Limited.
Latifundist writes about this with reference to the announcement on the Warsaw Stock Exchange.
Earlier, the Luxembourg Financial Sector Supervisory Commission (CSSF) officially included Kernel in the list of companies that have a shareholder with more than 95% of the ownership stake, and to which the sell-out or squeeze-out procedure can be applied. The CSSF also published a legal opinion, according to which Namsen does indeed own more than 95% of the company’s shares.
In response to the minority shareholders’ appeal, Namsen confirmed its readiness to buy out their shares. The proposed buyout price is PLN 19.45 per share. The fair value assessment was carried out by KPMG Tax and Advisory.
Now, minority shareholders have a month to appeal the proposed price. After that, if the appeal is not sufficiently substantiated, the CSSF may decide to conduct a second evaluation procedure, and after that it may independently determine the sell-out price. Then all minority shareholders will be able to decide whether to join the sell-out and sell shares at this price to Namsen or not.
Also, Namsen cannot force minority shareholders to sell shares within the framework of the sell-out. However, it may initiate a squeeze-out procedure, under which all minority shareholders will be obliged to sell shares at a fair price determined by an independent expert and agreed by the CSSF. However, it is not yet known whether Namsen plans to announce a squeeze-out.
Earlier, USM reported that Kernel’s capitalization increased to $1.47 billion.