This Monday, on 21 September, BEST stock will be split in 1 to 4 proportion. Therefore, the reference price for the session on this day will be adjusted accordingly, i.e. it will be the closing price from 18 September divided by 4.
As a result of the split, the total number of BEST shares will increase from over 5.2 million to approx. 20.9 million. At the same time, the nominal value of each share will be decreased from PLN 4 to PLN 1; therefore, the amount of the share capital will remain unchanged.
Pursuant to the Resolution of KDPW (National Depository for Securities), the split date has been set for 21 September 2015. This means that on this date, four shares of the company will be registered in place of each existing BEST share in investors' accounts; however, after the split, the value of a single share will be equivalent to 1/4 of the value prior to the split. This is why the reference rate for BEST shares for the session on 21 September will be modified accordingly, i.e. it will be the closing price from the session on 18 September divided by 4 (and rounded to full groszy).
Therefore, the stock split has a neutral impact on the value of the portfolios of investors who will hold four times more BEST shares at proportionally lower prices. The market valuation, i.e. the capitalisation of the company, will not change either.
"Stock split is one of the measures which we have undertaken in recent months in order to boost the liquidity and availability of BEST shares for investors, individual ones in particular. We are pleased that the measures we have undertaken in this scope so far, i.e. signing an agreement with a market maker, joining the Liquidity Support Programme and, in effect, moving the listing of our shares to the continuous trading system, have met with positive market response," said Krzysztof Borusowski, CEO of BEST.
General information about BEST
BEST S.A. is a company listed on the Warsaw Stock Exchange since 1997. It specialises in the trade and management of unpaid debts. The BEST Group invests in debt portfolios (especially in bank debt portfolios) with the use of securitisation funds and provides debt collection services on commission – for banks, telecommunication operators, power companies and other mass service providers.
BEST is also a sole shareholder of BEST TFI, which manages investment funds with total assets of PLN 963 million (as of 30 June 2015). The combination of competences concerning debt collection and the establishment and management of investment funds has enabled the concentration of all elements of the business model into a single capital group.
The total nominal value of own debt and debt of other entities managed by BEST is approx. PLN 9.8 billion (as of 30 June 2015).
In 2014, the BEST Group generated a net profit of PLN 58.9 million attributed to the Company's shareholders, with operating revenues of PLN 124 million.
For further information visit www.best.com.pl or contact:
tel. 22 826 74 18 / mobile 516 173 691
tel. 22 826 74 18 / mobile 514 985 845