In connection with a request received from the majority shareholder, the management board of Kredyt Inkaso convenes the Extraordinary General Meeting. During it, it is envisaged to elect members of the Company Supervisory Board. This event may finalize the currently pending corporate dispute.
The management board of Kredyt Inkaso has obtained a notification on acquisition by Waterland Private Equity Fund VI Holding 5 B.V. (being under control of Waterland Private Equity Investments B.V.) of 61.48% of the company’s shares along with a request to organize the Extraordinary General Meeting (EGM). At the same time, the agenda of the EGM included a point providing for voting on dismissal of all members of the Company Supervisory Board and re-appointment of members of this body.
The EGM along with voting in the aforementioned case may contribute to finalization of the corporate dispute the source of which includes actions taken by minority shareholder John Harvey van Kannel, holding 0.02% of the Company’s shares.
For the record: John Van Kannel has filed a lawsuit against the Company for ascertainment of invalidity of the resolution adopted at the General Meeting of Shareholders (on 27 November 2020) appointing Daniel Dąbrowski a member of the Company Supervisory Board. At the same time, the Court is to establish whether a resolution dismissing Maciej Szymański from the function of the President of the Management Board of the Company was also adopted at the General Meeting of Shareholders.
John Van Kannel received from the Court a security for his claims on 15 January 2021. His lawsuit was based on a statement that Waterland Private Equity Fund VI Holding V B.V. (WPEF VI Holding V) lost the right to vote as a result of improper notification on acquisition of 61.48% of Kredyt Inkaso’s shares in a request in 2016.
On the basis of professor opinions at hand – drawn up by reputable law firms – the Company found that WPEF VI Holding V B.V. has the right to vote and has never lost it because the obligations to make a notification and request during the acquisition of Kredyt Inkaso’s shares in 2016 were fulfilled correctly. A position of the Polish Financial Supervision Authority [KNF] of 4 April 2021 confirms correctness of the said request.
Moreover, the received opinions unequivocally show that due to defective formulation of the decision on granting the security, Daniel Dąbrowski is continuously a member of the Company Supervisory Board, about which it was informed in the current announcement (Report No. 4/2021 of 12 February 2021).
Nevertheless, some minority shareholders of the Company – BEST S.A., BEST Capital Closed Investment Fund of Non-Public Assets and John Van Kannel, as well as a member of the Supervisory Board of the Company, appointed by BEST S.A., Karol Szymański from RKKW chancellery – actively present a standpoint that Daniel Dąbrowski is not a member of the Supervisory Board. Therefore, they consider that this body currently has four members, and not five members as required by the law.
Finalization of the case brought by John Van Kannel at court requires time, in particular during the COVID-19 pandemic. In the Company’s interest is, however, to provide all bodies with a possibility of efficient and undisputed operation. Therefore, convening the EGM along with voting on re-appointment of members of the Supervisory Board to it – constitutes an optimal way to quickly stabilize the situation and finish the dispute. At the same time, the Company shall continue the court proceedings.
– The upcoming Extraordinary General meeting of Shareholders, along with the agenda proposed by the main shareholder, shall remove any and all doubts that have been caused by the security obtained by John Van Kannel. Nevertheless, we expect that the case shall also be adjusted by the Court in line with the position of Kredyt Inkaso. This will guarantee certainty of turnover and eliminate the risk of destabilization of the stock exchange listed companies in this was – said Maciej Szymański, President of the Management Board of Kredyt Inkaso SA.
The Extraordinary General Shareholders Meeting is planned for 24 May 2021.
Contact for media:
mail: press@kredytinkaso.pl
About Kredyt Inkaso
Kredyt Inkaso was established in 2001 as the pioneer on the Polish market of debt management. Since that time it has been constantly assisting companies and individuals in the process of debt recovery, cooperating with banks and insurance companies. Kredyt Inkaso offers a wide range of services: from monitoring payments, through amicable collection, to court and enforcement processes.
Since 2007, Kredyt Inkaso has been present on the Warsaw Stock Exchange, and in 2018 it conducted the first public issue of bonds. In its activity, the company follows the principle that the process of debt recovery should be as easy and intelligent as possible, but first of all, it should be ethical – which is confirmed by Ethical Audit Certificates awarded annually by the Association of Financial Enterprises in Poland. The Company also pays attention to the issues related to corporate social responsibility and therefore is involved in educational or charity undertakings.
Apart from Poland, Kredyt Inkaso Group is present in four countries: Bulgaria, Romania, Russia and Croatia.
