Arlen SA GPW:ARL:
SAID ON WEDNESDAY IT HAS SIGNED INVESTMENT AGREEMENT TO ACQUIRE STAKE IN ZAKLADY ODZIEZOWE TARNOWSKIE GÓRY
INVESTMENT IN ZAKLADY ODZIEZOWE TARNOWSKIE GORY TO BE CARRIED OUT IN FIVE STAGES OVER MAXIMUM OF 2 YEARS
IN THE FIRST STAGE, EGM OF ZAKLADY ODZIEZOWE TARNOWSKIE GORY ADOPTED A RESOLUTION TO UP SHARE CAPITAL BY 400 ZLOTYS TO 5 400.00 ZLOTYS BY CREATING 8 NEW SHARES, INTENDED TO BE ACQUIRED BY ARLEN IN EXCHANGE FOR A CASH CONTRIBUTION OF 3 MLN ZLOTYS
IN THE SECOND STAGE ARLEN ACQUIRED 50% STAKE IN ZAKLADY ODZIEZOWE TARNOWSKIE GORY FOR 7.2 MILLION ZLOTYS
TO INVEST ADDITIONAL 7 MILLION ZLOTYS IN ZAKLADY ODZIEZOWE TARNOWSKIE GORY THROUGH CAPITAL INCREASES IN STAGES 3-5
TARGETS 60% STAKE IN ZAKLADY ODZIEZOWE TARNOWSKIE GORY AFTER ALL INVESTMENT STAGES
ZAKLADY ODZIEZOWE TARNOWSKIE GORY IS A POLISH COMPANY OPERATING IN THE CLOTHING INDUSTRY AND SPECIALIZING IN THE PRODUCTION OF MEN'S CLOTHING SUCH AS SUITS, JACKETS, TROUSERS AND VESTS
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