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Announcement on the increase of the registred capital of BENZINA a.s.

20-01-2006  

Announcement on the increase of the registred capital of BENZINA a.s.

On 20th January 2006 came into force the decision of Prague Municipal Court that confirmed the decision of the Board of Directors of Unipetrol a.s. as the sole shareholder decided to increase the equity of Benzina a.s. by the amount of 1 299 m CZK in the way of cash injection.

The decision on the capital increase in the subsidiary of Unipetrol a.s. is a part of Benzina a.s. restructuring process which has been initiated in the second half of the year 2005.

The funds from the capital increase will strengthen the financial position of the subsidiary and allow the company to reorganize its liabilities. Capital injection will also help Benzina a.s. to implement and perform the restructuring plan which will improve its operations. Restructuring activity focuses on administrative and operational cost cutting and improvement of quality of services.

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