Karen Notebook to issue shares for clean slate in 2007

"The main shareholders have already agreed that they will support the issue," stated Slawomir Karpinski, a member of the company's supervisory board. The new shares will be offered to selected investors and according to the daily Puls Biznesu, most of the shares will be acquired by the largest shareholder Techmex. "This issue is to cleanse the balance sheet of Karen. We want the company to welcome the new year in good condition," declared Karpinski. Karen develops dynamically, however, due to its debts banks are reluctant to grant it loans. The income from the share issue will allow the company to pay off debts of zl.15-20 million and to make new investments. The company is developing its sales network and wants to have 100 outlets by the end of the year. "We have new investment ideas for next year," added Karpinski. (Puls Biznesu, p.12) E.B.