Fota S.A. informs that this week, the Board of a correlated company Art.-Gum will sign an agreement with Mr. Zbigniew Morawski to purchase stock shares in order of remission.
The agreement singing was made possible when the District Court in Bielsko Biała registered the joint stock agreement change which determined a condition sustaining resolution no 4 to come in effect at Emergency General Meeting regarding the remission of shares owned by Mr. Zbigniew Morawski as well as concluding an agreement to purchase the above mentioned shares to then remiss them. The remiss was caused by the Joint Stock interest and was made with the face share value. As a result the total share of Emissioner in Joint Stock capital has risen from 60,8% up to 75,6%.
The Board of Fota have presumed to increase its engagement in Art.-Gum capital from the very beginning.
The decision was made right then based on favorable conditions of the transaction as well as the prospect of a significant rise of joint stock value in the oncoming years.
Considering the financial results that Art.-Gum worked out in 2009 it is a good information for Fota shareholders. Last year the total turnover of Art.-Gum rose by 17 %, to the level beyond 130 million PLN. The turnover rise was caused mainly by well-aimed investment made into the sale structures taking place through 2008 (opening up new sale points), consequently ruling a bigger part of the market giving possibilities to serve new customers but also a very favorable seasons both summer and winter.