The Management Board of TOYA S.A. (”Issuer”) hereby announces than on 2 January 2013 the Issuer has received information about registration by the administration of People’s Republic of China:
- changes in the Articles of Association in the related Entity – YATO China Trading Co. LTD (YATO China), according to which the Issuer has received the right to nominate majority of Management Board Members of YATO China.
- the increase of the share capital in YATO China to the amount of USD 2 350 000 through cash contribution.
After the share capital increase the structure of YATO China share capital is as follows:
- TOYA S.A. (Issuer) 75% of YATO China share capital
- other shareholders 25% of YATO China share capital.
The increase of the share capital will be effective after receiving by YATO China of the cash contribution. Transfer of funds for the contribution in the increased share capital has been executed by the Issuer today.
As a result of the changes in the Articles of Association and increase of the share capital, the Issuer has obtained control over the entity.
The abovementioned changes are designed to take higher advantage of local Chinese market potential, as well as potential of Asian and other markets where YATO Chin is operating. This change was one of the goals of the first public offer.
Legal basis: article 56 section 1 point 2 Act on Public Offering
Grzegorz Pinkosz
President of the Management Board
Dariusz Hajek
Vicepresident of the Management Board