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Enea one step away from takeover of Bogdanka

The mine owners declared the intention of selling over 64.57 per cent of LWB's shares to Enea within the tender offer. It means that the energy concern will hold a total of 66 per cent Bogdanka's shares. The last condition which must be satisfied in order for the tender offer to be effective is the permit of the President of the Office of Competition and Consumer Protection for the concentration. The proceeding in this case was put back in force and Enea extended the subscription period formally.


Enea is already sure that when the President of the Office of Competition and Consumer Protection issues the permit, it will take over the control over the mining company. Its shareholders declared the sale of a relevant number of shares and rejected the proposal of amendments to the statute submitted by Bogdanka's Supervisory Board which were to block the takeover.

The decisions made by Bogdanka's owners open a new chapter in the mine's history. A very likely now entry into a modern energy and fuel concern, which Enea becomes, means a guarantee of a further development for the company in difficult market conditions. Bogdanka's future vision proposed by us was approved by the company's Management Board and employees, which proves that it will be a friendly takeover – emphasises Krzysztof Zamasz, the president of Enea.

Until 15 October subscriptions were filed which exceed even the maximum number of shares which Enea intended to acquire in the tender offer. It means that only the subscriptions filed until 15 October will be the subject of the transaction, under the proportionate reduction. Pursuant to the rules of the reduction mentioned in par. 29 of the tender offer, potential subscriptions filed after that date will be accepted but will not be realised. The extension of the tender offer's term until 21 October which was announced today is only of a formal and technical nature. The subscription process will not end before the President of the Office of Competition and Consumer Protection issues a permit for the concentration.

Enea is a renowned seller, distributor and producer of electricity and heat energy. Lubelski Węgiel Bogdanka, on the other hand, is the most efficient mining company in Poland. Enea is the key customer for the mine's products and Bogdanka is the largest supplier of fuel for the concern. The both companies are listed on the Warsaw Stock Exchange, and their shares are included in the key index of WSE, WIG20.

Having in mind the diverse and international nature of Enea SA's shareholding, and also the provisions of the Best Practices of WSE Listed Companies, Enea SA guarantees the availability of its website also in English. In case of any interpretation doubts and discrepancies between the Polish and English versions, the Polish version shall prevail.