’s representatives informed that they still stick to the initial plan to raise approx. EUR 100m at the time of Warsaw and Budapest dual listing. Company thus reacted on news regarding possible increase of EUR 200m based on Hungarian sources, which according to Orco
created certain misunderstanding.
We expect that proceeds of either EUR 100m or 200m capital increase could be used in accretive way. However higher capital increase, representing some 18% of outstanding shares could create more short-term pressure on the stock price. Dual listing is scheduled in second half of May 2007.