Softbank plans takeovers and reduction in share issue after shrewd dealing

The meeting was a continuation of the one that took place on May 6, when one of the shareholders, Prokom (25% share), asked for more time to convince the remaining shareholders about the planned acquisitions. In return for supporting the takeovers they were allowed to introduce essential changes to the original resolution schemes. All the changes are favorable for Softbank. The company will issue 4.22 million shares, and not, as had been originally planned, 8.37 million, which means that the new shares will compose 16.7% of the capital, and not 21.3%. The changes are due to the fact that Softbank managed to negotiate lower prices for the takeovers. For instance, the consulting company Gladstone will cost zł.31 million maximum, instead of the projected zł.43 million. (Parkiet, p. 7) A.F.