Unipetrol: Minority shareholders call a General Meeting

According to Euro Online, a minority shareholder with at least a 3% stake in Unipetrol has asked for a general meeting to be convened. The minority shareholder is reportedly a business entity and not an association of minority shareholders. The BoD of Unipetrol now has 40 days to convene the GM. Note that PKN lost its voting rights in Unipetrol effective as of July 26 until a new buyout offer is published in the press after the SEC rejected its original proposal of CZK 103/share. Therefore, PKN should publish the new offer before the GM takes place. Last week, PKN said it would present its new offer as soon as possible. Unipetrol is on Patria’s Watch list.