Decision on merger of Cyfrowy Polsat S.A. with Praga Business Park Sp. z o.o. and approval of a merger plan

29 Aug 2008

The Management Board of Cyfrowy Polsat S.A. (Company) hereby informs that on 28 August it resolved to merge with Praga Business Park Sp. z o.o., seated in Warsaw, in which Cyfrowy Polsat S.A. holds 100% of share capital and approved a merger plan.

The merger will allow for the optimization of the organizational structure of Cyfrowy Polsat Group required in order to realize its medium and long term strategy and will allow for optimization of operating costs within the Group and in addition will simplify the documentation resulting from transactions between related parties.

The merger will be conducted through a take-over, as a result of which the assets of Praga Business Park Sp. z o.o. (taken-over company) will be moved to Cyfrowy Polsat S.A. (acquirer) in accordance with article 492 § 1. 1 of the Commercial Code.

Cyfrowy Polsat S.A. is the largest provider of pay DTH satellite television broadcasting services in Poland with 2,287,656 subscribers as of 30 June 2008. Its core business is to provide individual customers with access to television and radio channels grouped into different paid programming packages and transmitted via satellite. Cyfrowy Polsat S.A. sells its satellite broadcasting services throughout Poland. It provides its subscribers with access to 68 Polish-language television channels, including sports, music/entertainment, news/information, children, education and film channels. 

Praga Business Park Sp. z o.o. is the owner and administrator of real estate located in Warsaw at Łubinowa 4a, the headquarters of Cyfrowy Polsat S.A.
The merger plan, prepared in accordance with article 499 §1 of the Commercial Code, together with attachments, required by article 499 §2 of the Commercial Code, are attached to this current report.

Legal basis: article 5 clause 1 pass 13 of Regulation of the Minister of Finance dated October 19, 2005 on current and periodic reports to be published by issuers of securities


The merger plan (.pdf)

Attached files: 
Report Number: 
Last updated 10/21/2014