January 10, 2020 / 4:03 PM / 12 days ago

BRIEF- Izoblok To Sell Stake In Germany-Based Unit For Total Of EUR 4.5 Mln

Jan 10 (Reuters) - Izoblok SA:

* SAYS THE COMPANY AND ITS GERMANY-BASED UNIT HAVE SIGNED AN INVESTMENT AGREEMENT WITH FUNDUSZ EKSPANSJI ZAGRANICZNEJ FIZ AKTYWÓW NIEPUBLICZNYCH

* UNDER SAID AGREEMENT FUNDUSZ EKSPANSJI ZAGRANICZNEJ FIZ AKTYWÓW NIEPUBLICZNYCH IS TO BUY FROM THE COMPANY 10,695 SHARES IN THE COMPANY’S UNIT FOR THE TOTAL PRICE OF 4.5 MILLION EUROS AS WELL AS ACQUIRE 1,188 NEW SHARES IN THE INCREASED CAPITAL OF THE UNIT FOR THE TOTAL OF 0.5 MILLION EUROS

* FOLLOWING THAT TRANSACTION FUNDUSZ WILL HOLD 23.21% STAKE IN THE COMPANY’S UNIT, WHEREAS THE COMPANY WILL HOLD 76.79% STAKE

Source text for Eikon:

Further company coverage: (Gdansk Newsroom)

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