Redan plans to buy additional shares in TXM

WSE-listed clothing company Redan intends to buy newly issued shares in its subsidiary TXM valued PLN 5 -7 million. Redan plans to finance the transaction with a bond issue of PLN 11-13 million nominal value. Redan added that it is also in talks with 21 Concordia 1, which is the second biggest shareholder of TXM. Currently, Redan holds 18.9 million shares in TXM equal to 56.5 percent of share capital.