MCI Capital ASI SA (together with its majority shareholder MCI Management) signed an agreement with the Warsaw Stock Exchange on the restoration of trading in the company’s shares.
The agreement assumes a blockade of at least 50%. MCI shares until the date of entry into force of the amendment to the Act regulating secondary trading, participation rights of alternative investment companies (in a way that removes doubts as to the existence of restrictions on trading in MCI shares), but no longer than for a period of 12 months.
„We are glad that we managed to sign this agreement, which is the first step to the full restoration of MCI’s values to stock exchange trading. As the largest Alternative Investment Company whose quotation was suspended at the end of September, we were a natural leader seeking to change this situation, in our own interest, but above all in the interest of minority shareholders. Overnight, they became owners of unlisted shares” – says Ewa Ogryczak, vice-president of the management board of MCI Capital ASI SA. – Thanks to the initiative of our legal advisors and very efficient communication with the WSE, we managed to quickly reach an agreement. It should be noted that this was only possible thanks to the attitude of the main shareholder, MCI Management, which agreed to temporarily block 50 percent of MCI shares held, which was a necessary condition for the agreement with the WSE. We are returning to the stock exchange in a planned manner and agreed with the WSE , adds Ogryczak. MCI shares will be blocked by DM Noble Securities. Once a block is established, quotes should be suspended no later than within 7 days. According to the signed agreement, the entire operation should be completed by December 6, 2023.
Let us recall that on September 26, 2023, the WSE Management Board adopted a resolution to suspend trading in MCI Capital ASI S.A. shares starting from September 29, 2023. As the WSE explained, the decision resulted from the amendment to the legal provisions provided for in the Act of August 16, 2023 amending certain acts in connection with ensuring the development of the financial market and the protection of investors in this market, coming into force on September 29, 2023 The decision of the WSE Management Board was surprising for the MCI Group and the entire market, in particular in the context of the public announcement of the Ministry of Finance and the Office of the Polish Financial Supervision Authority of September 1, 2023. At that time, both institutions clearly confirmed that the provisions of law coming into force into force on September 29, 2023, do not apply to Alternative Investment Companies whose shares are already admitted to trading on a regulated market on the date of entry into force of the amended legal provisions.