Acceptance of undertaking strategic operations in a range of further development of Orzeł Biały S.A. by Supervisory Board of the Company.

On 5th July 2017, The Management Board of Orzeł Biały S.A. (‘The Company’) hereby announces that upon application of The Management Board from the same day, The Supervisory Board of Orzeł Biały S.A. accepted an undertaking strategic operations by The Company, which is intended to review available strategic options for The Company by:

• research some possibilities of further development directions  of The Company,

• overview of competitive position of Issuer on its basic market,

• identification of additional sources of raising capital for development, thereby it provides to beginning analysis and considering different strategic alternatives in every single business areas of The Company. The proposal of above-mentioned activities realization is striving for growth of The Company’s values.

Furthermore, The Supervisory Board of Orzeł Biały S.A. recommended and accepted an engagement of ING Bank N.V. London branch (‘ING’) or another company from ING capital group, as a financial adviser, which main task will be a support of The Management Board of Orzeł Biały S.A. . with overhauling above-mentioned strategic options, thereby The Management Board is obliged to undertake every necessary juridical activities to take above-mentioned actions.   

The Company will inform about another significant activities, or results of these activities, which emerge from strategic developmental plans, which were approved by The Supervisory Board of The Company.

Legal basis: Insider information  Art. 17, Act 1, MAR Decree 


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