Tytuł
The Board's position on the merger of P.R.I. "POL-AQUA" S.A. and its subsidiary PA ENERGOBUDOWA Sp. z o.o. with justification
Report No:25/2011
Date:2011/06/16
Legal basis:Art. 56 section 1 item 2 of the Act on Public Offering – current and interim information
Signatures:Piotr Chełkowski, President of the Board of P.R.I. “POL-AQUA” S.A.
Marek Sobiecki, Second Vice President of the Board of P.R.I. “POL-AQUA” S.A.
Content:

The Board of the Engineering Works Company "POL-AQUA" headquartered in Piaseczno ("Company"), according to the provisions of § 19 section 3 of the Finance Minister regulation of 19 February 2009 regarding current and periodic information submitted by issuers of securities and the terms and conditions of recognising information required by the laws of non-member states as equivalent, hereby presents its position on the planned merger of P.R.I. "POL-AQUA" S.A. and its subsidiary PA ENERGOBUDOWA Sp. z o.o. with its justification.
The Board of the Engineering Works Company "POL-AQUA" has a positive view of the merger between P.R.I. "POL-AQUA" S.A. and its subsidiary PA ENERGOBUDOWA Sp. z o.o.
The PA ENERGOBUDOWA Sp. z o.o. company provides construction services in the field of sanitary engineering: wastewater sewage systems, water supply, water treatment plants, sewage treatment plants, civil engineering and commercial construction. Those areas are similar to the two basic pillars of P.R.I. "POL-AQUA" S.A. activity, namely civil engineering and general construction.
The decision of merging the Companies is related to the process of restructuring conducted in the Capital Group and the long-term process of cutting costs of operation and increasing efficiency in acquisition and implementation of contracts. The merger plan does not provide any particular benefits neither for the members of governing bodies of the Companies nor for any other persons involved in the merger.
In the Board's opinion, the merger will have a positive impact by increasing competitive advantage on the Polish market.
The Board expects that the merger will result in:
- reduction of the operating costs of the Capital Group;
- increase of the efficiency of human resources;
- increase of efficiency in terms of acquisition and implementation of contracts;
- strengthening the areas of internal control;
- simplification of the management structure.

The planned merger of P.R.I “POL-AUQA” S.A. and PA ENERGOBUDOWA Sp. z o.o. has been announced in the Court and Economic Monitor (Monitor Sądowy i Gospodarczy) No. 97/2011 of 20 May 2011 (item 6272) and in current reports No. 20/2011 of 20 May 2011 and No. 24/2011 of 6 June 2011.
The information concerning the decision to merge P.R.I "POL-AQUA" S.A. and its subsidiary has been published in the current report No. 18/2011 of 19 May 2011.

Notice of a General Annual Meeting scheduled to pass a resolution concerning the merger has been published in the current report No. 23/2011 of 25 May 2011.

Attachments:
 
POLAQUA Mostostal Wyroby betonowe TECO