On 5th January 2015, the merger of ORLEN OIL (the Acquiring Company) with Platinum OIL (the Acquired Company) was registered in KRS (National Court Register).
The merger process of the Companies was conducted in accordance with the provisions of Article 492(1) (1) of the Commercial Companies Code, i.e. ORLEN OIL acquired all the assets of Platinum OIL. Due to the fact that Platinum OIL was ORLEN OIL's single-member company, the merger of the Companies was executed in a simplified mode, i.e. without increasing the share capital of ORLEN OIL and without the necessity of taking any other actions provided by law.
The implemented changes are consistent with the assumption of increasing the effectiveness of decision-making processes, simplifying structures and increasing business effectiveness, including especially sale and distribution of oils and lubricants.
The actions taken are consistent with the Group's strategy as regards the optimization of the ownership structure of the ORLEN Group.