The Management Board would like to present the current course of the process and the updated plans for the company's debut on NewConnect.
On April 29, 2020, we submitted an application for the admission into trading of series H shares (Pre-IPO), representing approx. 4% of all issued shares.
In the weeks following the submission of the application, we sent answers to 2 series of questions.
In the course of communication with the WSE, on June 1, 2020, the ASO NewConnect regulations were updated, introducing provisions on the minimum number of shares admitted to trading at the level of 15%.
There was a need to change this parameter in our application (the number of shares admitted to trading).
As a result of several iterations of talks, we received a favorable opinion of the WSE for the simultaneous introduction to trading of series H (PRE-IPO issue) and series G (Friends & Family issue), i.e. a total of 10.18% of the share capital, subject to the restrictions resulting from lock- up for series G shares.
Bearing in mind the objection received and WSE's recommendations regarding changes to the application, we completed all the necessary formalities, which resulted in the submission of an application for dematerialisation of series G to the National Depository for Securities (KDPW) on July 16, 2020. Together with the Authorized Adviser, we prepared and submitted to the WSE an update of the Information Document with attachments, which were submitted on July 17, 2020.
As of today, we have made every steps on the part of the company to make our debut as soon as possible. We are awaiting decisions of both the National Depository for Securities (dematerialisation of G series shares) and the WSE (admission into trading). We will inform you as soon as they are available. We hope to be able to announce the date of the first listing of Starward Industries shares soon.