Warsaw (Puls Biznesu) – PKN Orlen, Polish listed fuel giant, has lost the right to use its votes during shareholders meetings in its Czech companies Unipetrol and Spolana. The reason is that PKN Orlen failed to announce its will to buy shares of the two in due time. The Czech Securities and Exchange Commission rejected a week ago PKN Orlen’s application to be allowed to buy the shares. It found that the evaluations had mistakes. PKN Orlen wants the commission to accept its applications as soon as possible.
PKN Orlen has 62.99 votes in Unipetrol and 9.76 percent in its subsidiary Spolana. In case of a shareholders meeting, PKN Orlen will apply for the decision to be lifted temporarily.Poland/Enterprises/Gas and Oil