Pepees shareholders launch tender offer

WSE-listed food processing company Pepees major shareholders Maksymilian and Michał Skotnicki launched a tender offer for 31.4 million of company’s shares representing a 33.05 percent stake at PLN 1.45 apiece. If successful, Skotnicki’s will increase their stake to 66 percent. The offer will go through if at least 17.05 percent of the company’s shares are tendered. “The purpose of the tender offer is the acquisition of a sufficient number of shares by the callers, which will allow them to be able to participate in the current implementation and in shaping the company's future strategy. Acquisition of shares in the tender offer is treated as a long-term and strategic investment. The callers positively assess the company development strategy announced until 2018 and, during the period of its validity, they do not intend to undertake activities aimed at its fundamental change,” the statement said. At end of trading day on Monday, Pepees shares were worth PLN 1.44 apiece.