CMS has advised logistics company PCC Intermodal S.A. on its delisting from the Warsaw Stock Exchange and the re-materialization of its shares.
Following a squeeze-out that was completed earlier this year, the company was delisted and its shares re-materialized on September 11, 2018. The main shareholder, Germany's PCC SE, said in a press release that “the exit of PCC Intermodal from the Warsaw Stock Exchange is expected to increase its flexibility in terms of financing and implementing an investment program.”
Currently, PCC SE holds 98.40% of shares in PCC Intermodal S.A., while the remaining shares belong to the members of the management board of the company operating in Poland.
CMS Counsel Rafal Kluziak commented: “The recently observed trend of delisting of public companies from the Warsaw Stock Exchange is related to increasingly restrictive regulations, including those introduced by the MAR, which has raised costs for a listed company, as well as current market environment on the WSE.”
CMS’s team was led by Counsel Rafal Kluziak, supported by Lawyers Jakub Szczygiel and Karolina Stepaniuk. Blazej Zagorski was the supervising Partner.
