Polsat Plus Group and its majority shareholder Zygmunt Solorz and his company Reddev are set to undertake a joint share buyback in Polsat Plus Group, formerly known as Cyfrowy Polsat.
The total value of the tender offer will amount to no more than PLN2.9 billion (€630.3 million), equivalent to PLN35 per share.
In his comments on the share buyback, Zygmunt Solorz said: “I realise that – given the challenges that we want to embark on – part of the current shareholders may not intend to remain investors of the group. It can be assumed that they may wish to exit their investment as the group has reached a certain stage of development, no longer seeing themselves as shareholders of the group as it extends its operations into new areas. Hence, my proposal which enables the sale of shares at a fair price that we have built together until now.
“However, I personally believe in Polsat Plus Group and its future and I would like to invite all interested parties to participate with me, as shareholders, in building the future of Polsat Plus Group. I declare that I will act with full commitment and continue to build the value of the group in the interest of all stakeholders, as I have done so far for the past 30 years”.
