Exchange offer and IPO

In December 2010, the Management of Photon Energy undertook the restructuring process of the Group and established a holding company Photon Energy N.V. with a seat in Amsterdam, Netherlands. The driver behind this decision was the need to incorporate the Group in a jurisdiction where corporate law provides all the flexibility needed in the context of a stock exchange listing. Czech company law imposes many limitations in this respect.

On 30 December 2010, Photon Energy N.V. became the company's controlling shareholder holding 71.749% of its share capital (16,502,300 shares). Photon Energy N.V. is fully owned by Michal Gärtner and Georg Hotar through their private investment vehicles in the same proportion as their previous respective shareholdings in Photon Energy a.s. The transfers of shares was the first step in the company’s restructuring process in the preparations for listing on the main market of the WSE.

Currently the company is in the stage of preparing the prospectus for the exchange offer addressed to the minority shareholders. The exchange offer is scheduled to start by the end of January 2012.

10 February 2012 - Letter to Photon Energy a.s. Shareholders (ENG)

10 luty 2012 - Pismo do Akcjonariuszy Photon Energy a.s. (PL)