Polifarb shares to remain on Warsaw Stock Exchange

Shareholders of the country's biggest producer of paints, Polifarb Cieszyn-Wrocław, will not be able to count on another call to sell shares. The company's president has declared that he wishes to maintain the company's presence on the Warsaw Stock Exchange (WSE). Upon the call to sell shares, announced in mid-March, Kalon BV, the company's strategic investor, purchased only 34,100 out of the 15.1 million shares put on offer. In March the investor stated that it would consider the possibility of withdrawing the company's shares from public trading if, together with its subsidiaries, it obtained a 95% stake in the company. Polifarb President Arnold Peterse insisted however that the March call was announced only to comply with procedural regulations, provided for by the law on public trading. "There are no plans to withdraw the company from the WSE. The call in March was a necessity instigated by changes in ownership," he explained. (Puls Biznesu, p. 7) A.C.