This would breach the credit agreement that stipulates debt taken for purchasing 66 percent stake of the jewellery maker would have to be immediately repaid. "Anything could happen then," said Jerzy Mazgaj, head of Vistula's supervisory board.
Despite the opinion that the proposed share exchange parity of V&W for W.Kruk's shares of 2.4:1 should be changed, all resolutions concerning the merger should be approved unanimously according to Jerzy Mazgaj.
"Whether Vistula now issues one million more merger shares or less, which accounts for a fraction of its capital, is unimportant. This is about the existence of the company," said the investor.
Source: Parkiet (M.M.)
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