Graboplast is preparing for something big on the stock market

On Friday, Nutex Nyrt. reported the signing of a so-called transaction term sheet, which affects Graboplast from Győr, which was previously listed on the stock exchange and then delisted, in addition to several investors.

Investors: DAKRON-Invest, PZP Investment és Szolgáltató Kft. and LANDPORT Investment és Szolgáltató Kft.

The main steps of the planned transaction:

– Nutex intends to raise capital in Graboplast with a monetary contribution, which in return will issue new Graboplast shares, which can only be subscribed to by Nutex

– at the same time as the capital increase, Nutex will purchase 6.18 percent of the Graboplast shares from the above investors

– in addition, the Dakron – PZP – Landport trio will transfer 46.9 percent of the Graboplast papers they own to Nutex as a contribution, in exchange for these new E-series Nutex ordinary shares and Nutex dividend preference shares (entitled to a 10 percent higher dividend than the other shares, but voting rights are not attached to them). With this step, Nutex carries out a capital increase, the new shares can only be taken over by the three Kft

– the parties plan to conclude the share purchase and contribution agreements in a uniform contract, with the agreement regarding the Graboplast capital increase, the NUTEX capital increase, and the Graboplast purchase being concluded specifically with regard to each other, with the stipulation that they must be fulfilled simultaneously.

– it is a necessary condition for the transaction to be approved in advance by the general meeting of NUTEX, as well as the prior consent of the financing bank of Graboplast, the terms contained in the Term Sheet cannot be considered as a binding commitment for the parties

What do you need to know about Graboplast?

Graboplast is a Hungarian-owned production company with a century-old history. Its shares previously traded on the Budapest Stock Exchange for years, but in the early 2000s it was delisted and the company was transformed into a privately-held joint-stock company.

The company group has a total of four factories in three locations: Győr, Kecskemét and Tatabánya, in which 500 people work. Graboplast’s non-consolidated net sales in the previous year amounted to HUF 20 billion, the majority of which came from exports.

Tibor Veres is the majority owner of Graboplast, and DAKRON Invest is also his sole property. And Nutex is basically a company that manages its own assets.