Hydro again offers higher price to Alumetal shareholders until the last date of subscription submission

According to a report on June 22, Hydro is again increasing the offered price for Alumetal share sale subscribers to PLN 82.00 per share, valid through the last date of subscription submission on June 30, 2023.

All Alumetal shareholders who subscribe to the share sales tender in the current offer will be eligible for the higher price. Even the shareholders who subscribed prior to the latest price hike can claim PLN 82.00 per share, except 32.7 per cent of the shares owned by IPO30 UNIPESSOAL LDA will be acquired by Hydro at PLN 78.69 per share.

As per the latest report, Hydro has already received more than 80 per cent of Alumetal shares subscriptions. So, once the submission date is over, Hydro is expected to have a sufficient majority to make strategic decisions about Alumetal, including its intention to de-list the latter from the Warsaw Stock Exchange.

On June 15, Hydro officially reported that it received sales subscriptions of about 68 per cent of shares.

In early May, Hydro received the European Commission’s approval for the proposed acquisition of Alumetal. By mid-June, it received subscriptions from Alumetal’s shareholders with at least 50 per cent of stocks.

In early June, Hydro had increased its offer to Alumetal share sales subscribers to PLN 82.00 until June 15, post which the price returned to the original level (PLN 78.69 per share).

July 5, 2023, is the expected date of conclusion of share purchase transactions.