Key Developments: KGHM Polska Miedz SA (KGHPF.PK)

KGHPF.PK on OTC Markets Group - US Other OTC and Grey Market

37.58USD
19 May 2014
Price Change (% chg)

$2.04 (+5.75%)
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Latest Key Developments (Source: Significant Developments)

KGHM Polska Miedz SA announces syndicated credit facility agreement
Friday, 11 Jul 2014 11:06am EDT 

KGHM Polska Miedz SA:Signs an agreement for an unsecured, revolving credit facility in the amount of $2,500 million (about 7,581 million Polish zlotys) with an international syndicate of banks.The Agreement has an initial five-year tenor incorporating two one-year extension options exercisable at the request of KGHM Polska Miedz SA.The syndicate credit facility was arranged with a relational banks group of the KGHM Polska Miedz SA Group.The Global Coordinators responsible for organisation of the credit facility are Credit Agricole Corporate and Investment Bank, Credit Agricole Bank Polska SA, Bank Zachodni WBK SA, Santander Bank NA, Bank Polska Kasa Opieki SA, Bank Handlowy w Warszawie SA and PKO BP SA.The credit facility was significantly oversubscribed, with a substantial reduction in allocation for the participants.According to the agreement, the credit facility may be drawn in $ in the form of up to 25 renewable tranches.The financial resources acquired from the credit facility will be used in financing general corporate purposes (including capital expenditures) of the KGHM Polska Miedz SA Group and for refinancing of the financial debt of KGHM International Limited in the amount of $700 million.Interest on the credit facility was calculated based on LIBOR plus a margin, depending on the net debt/EBITDA financial ratio.  Full Article

KGHM Polska Miedz SA gives further details on FY 2013 dividend
Tuesday, 24 Jun 2014 04:41am EDT 

KGHM Polska Miedz SA:Declares dividend for 2013 of 1 billion Polish zlotys, equivalent to 5 Polish zlotys per share.Sets right to dividend date on July 8.Dividend to be paid in two installments.First installment of 2.5 Polish zlotys per share to be paid on Aug. 18.Second installment of 2.5 Polish zlotys per share to be paid on Nov. 18.  Full Article

KGHM Polska Miedz SA announces judgment of Court of Appeal in Wroclaw in case on declaring resolution of Ordinary General Meeting invalid
Friday, 13 Jun 2014 07:37am EDT 

KGHM Polska Miedz SA:Says the Court of Appeal in Wroclaw on June 13 dismissed the appeal of Leszek Hajdacki which was filed against the judgment of the Regional Court in Legnica dated Dec. 6, 2013, which dismissed his suit.This is in case requesting that Resolution No. 35 of the company's Ordinary General Meeting dated 19 June 2013 regarding the failure to adopt a resolution on the appointment to the Supervisory Board of KGHM PM SA of Leszek Hajdacki, elected by the employees of KGHM PM SA, be declared invalid.  Full Article

KGHM Polska Miedz SA announces further details on FY 2013 dividend recommendation
Monday, 12 May 2014 12:03pm EDT 

KGHM Polska Miedz SA:Says that it will recommend to the Ordinary General Meeting of KGHM Polska Miedz SA the payment of a dividend from profit for financial year 2013 in the amount of 1,000,000,000 Polish zlotys (i.e. 5 zlotys a share).Also, it will propose setting a right to dividend date for July 8, a date of payment of the first dividend installment of 2.50 zlotys a share for Aug. 18, a date of payment of the second dividend installment of 2.50 zlotys a share for Nov.18.The proposals of the Management Board were positively evaluated by the Supervisory Board of KGHM Polska Miedz SA.  Full Article

KGHM Polska Miedz SA updates on proceedings for repealing resolution of ordinary general meeting
Monday, 12 May 2014 11:44am EDT 

KGHM Polska Miedz SA:Says that the Court of Appeal in Wroclaw, as a result of an appeal filed by Waldemar Brus, in its judgment of May 12, changed the judgment of the Regional Court in Legnica Section VI Economic of Dec. 2, 2013.The Court of Appeal has repealed the resolution of the Ordinary General Meeting of KGHM Polska Miedz SA of June 19, 2013 regarding the non-appointment to the Supervisory Board of KGHM Polska Miedz SA of Jozef Czyczerski elected by the employees of KGHM Polska Miedz SA.  Full Article

KGHM SA to propose FY 2013 dividend-Reuters
Thursday, 17 Apr 2014 08:39am EDT 

KGHM Polska Miedz SA:KGHM management to propose FY 2013 dividend payout of 5 Polish zlotys per share or 1 billion zlotys ($329.1 million) - Reuters.  Full Article

KGHM Polska Miedz SA to maintain its dividend policy in 2013-Reuters
Friday, 28 Feb 2014 07:36am EST 

KGHM Polska Miedz SA:KGHM Polska Miedz SA will stick to its policy of paying out a third of its profits as dividend - Reuters.Fiscal year 2013 net profit equals 3.06 billion Polish zlotys ($1.00 billion).  Full Article

KGHM Polska Miedz updates on FY 2014 outlook above analysts' estimates-Reuters
Thursday, 6 Feb 2014 10:29am EST 

KGHM Polska Miedz SA:KGHM Polska Miedz SA plans to achieve a slightly lower net profit in fiscal year 2014 than in fiscal year 2013, which was above 3 billion Polish zlotys - Reuters.FY 2014 net income 2,458 million Polish zlotys - Thomson Reuters I/B/E/S Estimates.  Full Article

KGHM Polska Miedz SA announces court judgment in case on declaring its resolution invalid.
Monday, 27 Jan 2014 04:50am EST 

KGHM Polska Miedz SA:Announces that the Regional Court in Legnica, Section VI Economic, regarding a suit filed by Jozef Czyczerski, requesting that one of the resolutions of the company's Ordinary General Meeting of June 19, 2013, be declared invalid, issued a judgment in which it dismissed the suit of the plaintiff.Says the resolution concerned the failure to adopt a resolution on the appointment to the Supervisory Board of KGHM Polska Miedz of Jozef Czyczerski elected by the employees of the company.Says the judgment is not legally binding.  Full Article

Grupa Azoty SA signs letter of intent with KGHM Polska Miedz SA
Thursday, 16 Jan 2014 07:00am EST 

Grupa Azoty SA:Says on Jan. 16 Grupa Azoty SA and KGHM Polska Miedz SA of Lubin (KGHM) signed a Letter of Intent.Says it outlines general terms on which the Parties may collaborate in the following areas: phosphogypsum processing, exploration for potassium salt deposits abroad, accessing natural gas reserves, construction of a polygeneration power plant, and phosphorite exploration and production.  Full Article

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