On November 29 was published the prospectus of POL-MOT Warfama S.A., approved on August 13 by the Committee of the Financial Supervision. The public offer is planned for a period of from December 6 to 10 ( the Retail Part) and from December 12 to 14 (the Part of Large Investors). Still in December is planned the first listing of shares and rights to the shares of the Company at the Warsaw Stock Exchange.
POL-MOT Warfama S.A. plans gaining of the capital on the realization of the development strategy. This strategy puts on the enlargement of productive powers and the improvement of the quality of the production thanks to the of purchase of the modern park of machines and devices, the significant extension of the assortment of sold machines and the execution of the canvassing among subjects from the line.
Within the framework of of the public offer for the purchase is together 7.500.000 new shares of the series K of offered by the Company and 1.600.000 sharesof the series J sold by POL-MOT Holding S.A. The public offer is directed both to individual and institutional investors. Within the framework of of the Retail Part is offered 2.000.000 shares of the series K, and within the framework of the Part of Large Investors - 5.500.000 shares of the series K and 1.600.000 Shares Sold. The price range will be published at the very latest together with the beginning of the process of book-building in the December 6. The function of offering fulfils the Millennium Brokerage House SA.
„Thanks to resources from the issue we will develop significantly the potential of our company. We want to become leader on the market of machines and agricultural devices and fully use the excellent perspectives of the Polish farming sector” - said Grzegorz Bartosik, the President of the Board of POL-MOT Warfama S.A.
The information on the market
The Polish agricultural market is evaluated very in perspective, and a main engine of his development are resources from the European Union and accompanying to them resources from the state budget. Within the framework of of the Special Operating-Program in years 2004 - 2006 on the support of the agricultural sector one intended 5,5 milliards euro. Nowadays started the Development Programme Of Rural Areas foresees directing to this sector to the year 2013 together 17,2 billion euro, whereof from the European Farming Fund to originate will be 13,2 billion euro. The remaining sum will be assigned from public resources. The large part of this stream of money will be of service the modernization of the agricultural production, that is to say to the of purchase of the new equipment. Within the framework of the PROW programm on years 2007-2013 on this modernization becoming intended almost 4,5 billion euro, that is to say about 16,5 billion zlotys ( this sum does not embrace the own contribution of farmers). The maximum sum of refinancing for a period of seven years is 300 thousand of zlotys on 1 farmer.
Interesting is the comparison with the previous operating-program on years 2004 - 2006. In previous years on the purchase of tractors and machines one intended till 80% expenses. This number gives the important signal, how will look the demand on key products.
POL-MOT Warfama S.A. intends to use showing perspectives, basing itself on its own market superiorities. To most important trumpses of the Company is over 60-years industry experience of machines and devices for the agriculture, the large productive potential and increasing successively the portfolio of products and the ability of the elastic adjustment to market needs.
The information on planned usage of income from the public offer
Resources gained as result of the issue, POL-MOT Warfama S.A. intends to spend on the realization of the strategy of the further development of the firm, embracing:
a. the purchase of machines and productive devices and conveyances (approx. 15,6 millions PLN)
b. repairs and modernizations of construction objects (2,4 millions PLN)
c. the informationalization of the Group (0,3 millions PLN)
d. research and development (1 million PLN)
e. the acquisition of competing businesses, as well as of firms generative complementary goods
f. the restructuring of the debts
The public offer will be be effected in following time-limits:
the beginning of book-building and receptions of recordings in the Retail Part: 6 December 2007
the end of the subscription in the Retai Part: 10 December at 15.00
the settlement and the announcement to the public information on the price and final number of the offered shares: 11 December 2007
the beginning of the subscription in the Part of Large Investors: 12 December 2007
the end of the subscription in the Part of Large Investors: 14 December 2007
the shares application in the Retail Part through the GPW system and the shares application in the Part of Large Investors: 18 December 2007
the close of the public offer: 19 December 2007