Boryszew Group companies announce a tender offer for 100% shares of Alchemia S.A. (“Company”)

Boryszew S.A., Impexmetal S.A. and other entities have announced a tender offer for all Alchemia S.A.’s free float shares. The aim of the transaction for the prospective acquirers is to purchase 100% of the Company's shares and to delist from the stock exchange.

The price offered in the tender offer complies with the conditions set out in the Act on Public Offering and amounts to PLN 4.80 per share. Subscriptions for the sale of shares subject to the tender offer will be accepted in selected branches of Santander Bank Polska (as indicated in the tender offer announcement) from 31 January to 4 March 2019. The entity acquiring the shares is Impexmetal S.A.

The share price indicated in the tender offer is attractive for the Shareholders, as it is higher than the highest share price recorded throughout 2018, and is a solid compromise between the lower valuation of the Company, which was maintained over the last year, and slightly higher, stable levels of the chart over the previous years. Given the observed decline in investors' interest in the capital market, the tender offer will provide additional liquidity for minority shareholders.

If, following the tender offer, the prospective acquirers will directly or indirectly control 90% or more of the Company's shares, their intention is to initiate the process of compulsory acquisition of shares belonging to the minority shareholders of the Company.

"Upon completion of the tender offer, we plan to withdraw (delist) the shares of Alchemia S.A. from stock exchange trading. Through the inclusion of Alchemia S.A., which is currently implementing significant investment projects, into Boryszew Group, we plan to achieve synergy effects not only in the area of capital effectiveness, but also in the area of our product offer" – said Piotr Lisiecki, President of the Management Board at Boryszew S.A. "Our strategic goal is to create a strong group. This objective may be implemented through a constant development- and product-oriented investment process in the most perspective entities of the group as well as through capital investments. We take into account the potential and similarities of both groups (Alchemia Group and Impexmetal Group), operating in the steel and metal processing sector, and the need to coordinate actions related to the development of commercial activities and expansion on new prospective markets" – Lisiecki added.

All the prospective acquirers (Boryszew S.A., Impexmetal S.A., Ms. Grażyna Karkosik, Mr. Roman Karkosik, EAST-SIDE Bis Sp. z o.o.) control a total of over 66% of votes at the Alchemia S.A.’s Annual General Meeting.

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