Hydro increases its offer to PLN 82.00 per share for Alumetal shareholders

According to a report released on June 8, Hydro is offering PLN 82.00 for each Alumetal share who subscribes for sale by 23:59 on June 15, 2023. The offer is also open to those who submitted their sale subscriptions before the price increased but with the condition that approximately 32.7 per cent of the shares owned by IPO30 UNIPESSOAL LDA will be acquired by Hydro at PLN 78.69 per share.

From June 16, the offer price will return to the initial level of PLN 78.69 per share for all subscribers.

Hydro has increased the tender price to attract subscribers in less time and meet the target of selling at least 50 per cent of all Alumetal shares as soon as possible.

Approximately 39 per cent of Alumetal’s shares have already been subscribed, including shares held by two members of Alumetal’s Supervisory Board and all members of Alumetal's Management Board.

Hydro opened subscriptions for Alumetal share sales on May 26. The last day of subscription submission is June 30, and the expected date of conclusion of share purchase transactions is July 5, 2023.