7.9.2020 10:40, BAAPEGAS
PFNonwovens Holding, the majority owner of the nonwovens manufacturer PFNonwovens (formerly Pegas Nonwovens), announced today that it is launching a vytsnn process. PFNonwovens Holding has so far owned 89.99% of the shares in PFNonwovens. He now announces that he has bought another share, he has more than 90% of his shares in PFNonwovens after the sale and the process will be started. The proposed redemption price for minority shares at 719.50 K per share, which is 7.4%, did not exceed the five-day price on the stock exchange. We will respond positively to the PFNonwovens action in the context of the day’s trading.
After all these years, Pichz gave corporate events at PFNonwovens events. During the summer of 2017, R2G Rohan Czech (later renamed PFNonwovens Holding) voluntarily accepted the offer at a price of 1010 K per share. Most of the minority shares accepted this offer at the time, and the new majority owner at the time gained approximately 88.5% in PFNonwovens. Pichz and now, after those years. According to our opinion, for a relatively conservative proposed price of 719.50 K, when our currently valid customs price for this stock is at the level of 834 K.
The process of drawing up is still in its infancy. On the part of PFNonwovens Holding, the Czech National Bank will be informed enough to give its consent to the justification of the proposed counterparty minority share in the amount of 719.50 K. According to our opinion, the process may proceed. disputes and thus put pressure on the redemption price.
Today, the market reacted positively to the first start of the process, PFNonwovens shares traded at a profit of less than 10% at the start of trading and held the 740 K mark (they closed at 670 K on Friday). They are currently at the level of 740 K and are 11% below the total price.
Jan Raka, analyst, Fio banka, as
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