PKN is holding a conference call for analysts on its future strategy in Unipetrol today at 11:00am CET. The dial-in No. is: +44 207 1620125.
According to PKN’s CEO, Igor Chalupec, the final price PKN would pay for the 63% stake of Unipetrol to the state would be known by mid-October. Note that the final audit may change the price in the range of -25 to 15% of the previous CZK99/share.
Separately, as expected at yesterday Unipetrol’s EGM were elected seven new members to the Supervisory board coming from PKN. CEO Igor Chalupec was elected Chairman of the Board. Chalupec said PKN is preparing the mandatory minority buyout, which will be called by July 25, and repeated that at the moment PKN has no intention to de-list Unipetrol. We remind that Unipetrol is on Patria’s Watch list.