Orlen's subsidiaries to be merged

PKN Orlen's subsidiaries Orlen Paliwa and Orlen Gaz will be merged into one entity through acquisition of Orlen Gaz by Orlen Paliwa. As a result, the share capital of Orlen Paliwa will increase from PLN 38.3 million to PLN 81.3 million through the issue of 4,295 new shares worth PLN 10,000 each. The book value of Orlen Paliwa stands at PLN 118.6 million and the book value of Orlen Gaz totals PLN 132.9 million. Orlen Paliwa is the Regional Market Operator of PKN Orlen dealing with bulk liquid fuel sales including fuels such as: petrol, diesel fuel or Ekoterm Plus heating oil. Orlen Gaz is the largest Polish company operating on the liquid gas market in Poland, specializing in selling and distributing propane, butane and propane-butane mixture.