Consent of the Izostal S.A. Supervisory Board to disposal of shares of ZRUG Zabrze S.A.

Legal basis: Art. 17 Clause 1 MAR - inside information.
 
CONTENT OF THE REPORT:
The Izostal S.A. Supervisory Board (Company) hereby informs that on 06.07.2016 the Supervisory Board of Izostal S.A. passed a resolution on expressing consent to disposal of shares of ZRUG Zabrze S.A.

The Supervisory Board gave permission to sell 5,000,000 (five million) of Series D registered shares, numbered from 0000001 to 5000000, with nominal value of PLN 2.00 (two zlotys) each, of ZRUG Zabrze S.A. company with its registered office in Zabrze to the company Stalprofil S.A. with its registered office in Dabrowa Gornicza, for the total amount of PLN 10,000,000.00 (ten million zlotys).

The abovementioned block of shares constitutes 37.11% of share in the ZRUG Zabrze S.A. company capital and 31.06% of voting power in ZRUG Zabrze S.A.

The Supervisory Board authorised Izostal S.A. Management Board to arrange the details of the transaction.

Sales of ZRUG Zabrze S.A. shares for the benefit of Stalprofil S.A. is a part of the “Action plan of the Stalprofil S.A. Capital Group for support of restructuring its pipelines construction activities”, of which the Company informed in current report no. 17/2016 dated 05.07.2016.

Value of the abovementioned shares, as stated in the financial situation statement of Izostal S.A., amounts to PLN 10,000,000.00 (ten million zlotys).

The Company shall inform about conclusion of the agreement for sales of shares in ZRUG Zabrze S.A in a separate current report.

SIGNATURES OF PERSONS REPRESENTING THE COMPANY:
Management Board President, Marek Mazurek  2016-07-06
Proxy, Marek Matheja  2016-07-06
 
INFORMATION ON THE ENTITY:
Full name of the issuer: IZOSTAL SPÓŁKA AKCYJNA
Abbreviated name of the issuer:  IZOSTAL S.A
Sector based on the classification of Warsaw Stock Exchange:  Other industry
Address: 47-113 Kolonowskie Opolska 29
Telephone: +48 77 405 65 00
Fax: +48 77 405 65 01
e-mail:info@izostal.com.pl
www.izostal.com.pl
VAT No. [NIP]:756-00-10-641
Statistical No. [REGON]: 530884678