Today, the general shareholders’ meeting of Stocznia Gdansk will be held. Shareholders will decide whether Ukrainian ISD (Donbas) which already owns 5 percent of the company, will get the approval of the other shareholders to buy newly issued shares for PLN 400m (EUR 106.8m). This would increase its stake to over 75 percent.
The shipyard, however, still has the offer from Marine Co., a Polish company founded by managers of Maritim Shipyard which took part in construction of famous Queen Mary II. Marine wants to buy pre-emptive rights from the Agency of Industrial Development controlling the shipyard, and from Cenzin. Yesterday in the evening, the ministers of the treasure and economy were supposed to discus the case.
Unofficial sources say that the Ukrainians are closer to acquire the shipyard. Marine may change it provided that it pays for the new shares before Tuesday, October 16th. According to “PB” sources, however, the company asked to delay the deadline.
“The shipyard’s management decided about the deadlines and it won’t agree for any delays. This Wednesday, our main shareholder, the agency of industrial development should get binding offer to buy the pre-emptive rights, an offer with bank guarantees. Before Thursday, an offer to buy the issue, also with guarantees, must be submitted. Before October 16th, the cash should already be on the shipyard’s accounts”, Andrzej Jaworski, Stocznia Gdańsk CEO said.
Unless Marine manages to pay this amount on time, the shipyard will start the process of conveying shares to the Ukrainians. After antimonopoly authorities and register court give their approvals, ISD could become the owner of Stocznia Gdansk. It is possible as early as at the end of this and the beginning of next year.
(PLN 1 = EUR 0.267)