The Management Board of UNIMOT S.A. (the “Company”, the “Issuer”) with its registered office in Zawadzkie announces that, on 2 June 2022, it took the decision to transfer the organised part of the Issuer’s enterprise (the “OPC”) to its subsidiary UNIMOT Paliwa sp. z o.o. (“UNIMOT Paliwa”) and of the significant change in the Issuer’s business focus that will take place upon the transfer of the OPC to UNIMOT Paliwa.
The separated OPC includes all components of the Issuer’s enterprise used for trading in fuels, excluding the activity related to trading in fuels as part of the developed chain of petrol stations under the AVIA brand, the activity related to trading in bitumen products and the activity related to trading in natural gas.
As a result of the contribution of the OPC to UNIMOT Paliwa, there will be a significant change in the Issuer’s object of activity, which, in accordance with the assumptions of the conducted reorganisation, is to ultimately perform the function of a holding company managing assets through special-purpose subsidiaries. The Issuer intends to maintain its current status as a dividend company.
The transfer of the OPC to Unimot Paliwa, as well as the related material change in the Issuer’s object of activity, requires the consent of the General Meeting, which will be convened immediately after the publication of this current report for 29 June 2022.
It is the Issuer’s intention that the transfer of the OPC to UNIMOT Paliwa will take place on 1 August 2022. As of that date, UNIMOT Paliwa will continue the Issuer’s activities in the area of fuel trading on the basis of concessions and permits currently existing or obtained by that date.
The decision to transfer the OPC to UNIMOT Paliwa and the related significant change in the Issuer’s object of activity constitutes the second stage of the reorganisation process of the UNIMOT Capital Group (“the Group”) commenced on 11 May 2022, aimed at preparing for the adoption within the Group of the business of an independent logistics operator and the business of production and sale of bitumen as a result of the implementation of the intended transaction of acquiring 100% of shares in LOTOS Terminals Spółka Akcyjna, about which the Issuer informed in earlier current reports.
The effect of the contribution of the OPC to UNIMOT Paliwa will be the adaptation of the management and supervision structure of the transferred business segments to operational requirements related to ensuring independence of the fuel trading entity from other operating companies. The transfer of the OPC to UNIMOT Paliwa will also lead to optimisation of employment, costs and will improve risk management within the Group.
The Issuer considered the information on the intention to transfer the OPC and the related significant change in the object of activity to be confidential, given the extent of the changes in the Group’s structure and the change in the Issuer’s object of business.
The Company’s Management Board emphasises that due to external market factors beyond the Company’s control, related to high volatility and uncertainty of the situation on the fuel market caused by the current political and economic situation, it is not in a position to estimate the final impact of all the effects of the reorganisation on the financial results of the Group and the Issuer.
Article 17(1) of Regulation (EU) No. 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (MAR Regulation)
Filip Kuropatwa, Vice-President of the Management Board