A share split, concluding an agreement with a market maker, joining the Liquidity Support Programme and adopting the continuous trading system – these are all actions undertaken by BEST in order to make the company's shares more readily available to investors.
Although BEST shares have been listed on the Warsaw Stock Exchange for 18 years, in recent years investors have mainly seen us as an active issuer of corporate bonds, particularly after the launch of the public bond issue programme in 2014. Taking into account the low debt ratio of BEST Group in comparison with the sector, bonds remain our preferred source of financing further growth. At present we are conducting a range of actions aimed at increasing liquidity and thus making BEST shares more easily available for investors, said Krzysztof Borusowki, President of BEST.
Due to the relatively small number of shares in free float, trading in BEST shares is limited. They are currently traded under the single-price system (double fixing). BEST has just concluded an agreement with the Brokerage House of Bank Ochrony Środowiska (BOŚ), which will act as the Issuer's market maker. The company has also decided to join the Liquidity Support Programme; therefore BEST shares will be moved to the continuous trading system.
Actions planned by BEST include a 1:4 split of the company's shares. Such a proposal was included in the agenda of the General Meeting, due to convene on 15 June 2015. Currently the share capital of BEST is divided into over 5.2 million shares with a nominal value
of PLN 4 each. Recently the Company's shares have traded at PLN 29.80 on the Warsaw Stock Exchange.
As a result of the planned split, the total number of shares will increase to over 20.8 million, the share nominal value will be PLN 1 and the number of shares in free float will increase to over 500 thousand.
The free float of our shares will remain small; however, due to the fact that we have been listed on the stock exchange for years, we meet the most stringent of disclosure requirements. We also develop our activities in the scope of investor relations on an ongoing basis. I hope that, thanks to increasing the number of shares in free float as a result of the split as well as the move to the continuous trading system, investors will be interested not only in BEST bonds but the shares too. Our Group stands out positively against the sector in terms of profitability and debt ratios. I believe that such popular stock exchange indicators as P/E or P/BV demonstrate the potential of BEST shares, said Krzysztof Borusowki.
Currently we have no plans to sell existing shares or issue new ones. However, in the long run the company needs different sources of financing; therefore, we want to be open to the stock market as well. As the major shareholder I uphold my long-term involvement in the company, announced the President 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 shareholder of BEST TFI, which obtained a permit from the Polish Financial Supervision Authority in 2008. The combination of competences concerning debt collection and the establishing and managing of investment funds has enabled the concentration of all elements of the business model into one capital group.
Currently BEST TFI manages four funds, including three securitisation funds: BEST I NSFIZ, BEST II NSFIZ and BEST III NSFIZ, whose assets include portfolios of claims with a total nominal value
of over PLN 9 billion (as of the end of Q1 2015), and the non-public assets fund BEST Capital FIZAN.
For further information visit www.best.com.pl or contract:
tel. 22 826 74 18 / mobile 516 173 691
tel. 22 826 74 18 / mobile 514 985 845