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Flexopack: Approved AMK 6.5 million for the subsidiary in Poland

Flexopack announces that the Extraordinary General Meeting of the shareholders of its subsidiary in Poland Flexopack Polska Sp, in which the Company participates with 100%, during its meeting that took place in Gdansk, Poland on 25the April 2022, decided to increase its share capital by cash payment, in the amount of 30,000,000 zlotys (PLN) (approximately 6,500,000 euros based on the current exchange rate), with the issue of 60,000 new shares, with a nominal value of 500 zlotys each and with a sale price the nominal value of them (even).

Upon completion of the above increase, the share capital of the above subsidiary will amount to 57,000,000 zlotys (PLN), divided into 114,000 common voting shares with a nominal value of 500 zlotys (PLN) each.

It is noted that the Company will take over all the above new shares that will result from the increase, and will fully and completely cover the total amount of the decided increase by paying cash within a period of six (6) months from the date of the above Extraordinary General Assembly.

Through the above increase, the Company will contribute to the financing of the investment program of its subsidiary in Poland, in order to significantly increase the production capacity of the subsidiary and to promote in a more efficient way its penetration in the market in which it operates.

Source: Capital

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