Polimex Mostostal to issue subscription warrants

The shareholders of Polimex Mostostal have agreed to issue subscription warrants for a total sum of PLN 430 million, exchangeable for Q-series shares, to be issued in an ex-rights issue. Holers of the subscription warrants will be able to buy the shares at PLN 0.30 apiece. “The company’s creditors who agree to convert their receivables to the company’s share capital. … The final deadline to execute the subscription warrants is 31 December 2014,” the company wrote in one of its draft resolutions. Polimex Mostostal wants to convert PLN 129 million of debt to equity, the company said in a statement.