Integrated report 2021

33.6.1 Planned capital injection for PGE S.A. by way of share issue

On January 18, 2022, the Management Board of PGE S.A. adopted a resolution to initiate a capital injection process for the Company in connection with planned investment projects in the area of renewable energy, decarbonisation and distribution.

The resolution provides for a proposal to the Company’s Extraordinary General Meeting to adopt a resolution on lowering the share capital by reducing the nominal value of shares with a simultaneous increase in the share capital by way of issuing E series shares in a private subscription, depriving the existing shareholders of the pre-emptive right to all E series shares entirely, applying for admission and introduction of E series shares or rights to E series shares to trading on a regulated market managed by the Warsaw Stock Exchange, dematerialisation of E series shares or rights to E series shares and amendment to the Company’s Articles of Association.

The Company’s Management Board intends to raise more than PLN 3 billion from investors as part of the capital increase process. The proceeds from the share issue are intended to support PGE S.A.’s investments across three areas:

  • development of renewable energy sources,
  • decarbonisation via development of low-carbon sources;
  • development of distribution.

The Extraordinary General Meeting will be held on April 6, 2022.

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