The shareholders of “Kernel” oppose the purchase of shares by Verevskyi’s company
16.04.2023 - 15:50
Owners of 22% of Kernel shares, 15 minority financial investors, did not support the delisting of the company from the Warsaw Stock Exchange.
The board of directors of the Kernel agricultural holding unanimously supported the proposal of the largest owner and chairman of the board of directors, Andrii Verevskyi, to buy back shares and delist the company from the Warsaw Stock Exchange. At the same time, some of the shareholders who do not support him decided to join forces, Business.Censor notes.share
To check the fairness of the proposed buyout price of 18.5 zlotys ($4.39 at the current exchange rate) per share, Kernel engaged the auditing company Baker Tilly. She came to the conclusion that the indicated price is within the lower limit of the calculated range of the fair value of the shares.
Minorities, among whom are mainly pension funds, declare that they will resort to all factual and legal actions, including those of a corporate nature, to protect their rights.
This group included: OFE PZU (2.03% of shares), Uniqua OFE (1.95%), OFE NN (1.83%), FRAM FIZ (1.4%), Allianz Polska OFE, Aegon OFE (1 .15%), PKO BP OFE, OFE Pocztylion, Lind Value and Kopernik Global Investors (5.02% of shares).
Earlier, Andrii Verevsky’s company Namsen Limited announced a tender for the purchase of 62% of the shares of the Kernel agricultural holding, which it does not yet own.
