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Enea prolongs subscriptions for Bogdanka

11:12

State-controlled Enea has prolonged subscriptions for Bogdanka mine's shares to October 21 due to lack of approval by the anti-monopoly watchdog UOKiK regarding consolidation at the scheduled time, the media reported. Enea handed in a motion to suspend the proceedings due to a resolution established by Bogdanka's supervisory board, in line with which an extraordinary meeting was held on October 15. The agenda included implementing changes in the company's articles of association. The amendments were to limit the execution of voting rights to 10 percent of Bogdanka's shares.  Eventually, the shareholders rejected a motion that would limit new shareholders rights, in a move signalling they are not willing to block a takeover bid announced earlier by Bogdanka's main client Enea. The purchase of the shares is scheduled for October 26. In mid-September, Enea announced that it wants to buy a 64.6 percent stake in Bogdanka, valuing the stake at PLN 1.48 billion, thus PLN 67.39 a share.  

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