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Letters from DEZA a.s. company

02-09-2005  

Letters from DEZA a.s. company

The Board of Directors of UNIPETROL, a.s. informs that on 22 August 2005 received letters from DEZA, a.s. requesting to enter into share purchase agreements related to 50% shares of AGROBOHEMIE, a.s. These letters referred to agreements on future share purchase agreements signed between UNIPETROL, a.s. and DEZA, a.s. on 12 October 2000. Having thoroughly analyzed the signed documents available to the Board of Directors and the received letters, the Board of Directors of UNIPETROL, a.s. concluded that there are serious legal defects relating to the signed documents and letters (in addition their non-conformity with good market practises), which did not enable the Board of Directors of UNIPETROL, a.s. to accommodate the requests vested in the received letters. Consequently, today on September 1st, 2005 the Board of Directors of UNIPETROL, a.s. proposed DEZA, a.s. to modify the transaction documents to assure their compliance with relevant Czech legislation and market standards and practices.​

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