Cyfrowy Polsat has had a difficult year on the Warsaw trading floor. Suffice it to say that over the last year the share price has fallen by over 42.1 percent. On Wednesday, the company’s shares were valued at PLN 10.90. , this is the worst result since 2012, i.e. for over 12 years.
Cyfrowy Polsat price (20-year chart) photo: Stooq.pl
The situation looks even worse when the current price is compared with that from August 2021, when Cyfrowy Polsat shares were valued at as much as PLN 36.5.
Telewizja Polsat with a new president. The company buys bonds
all outstanding series B and C bonds with a total nominal value of approximately PLN 311.9 million. The Early Redemption Date was set for February 5, 2024, while the date for determining the rights to benefits from the Bonds is January 26, 2024.
Positive information. The early redemption of bonds with a nominal value of PLN 312 million proves the good balance sheet situation of Cyfrowy Polsat and the possibility of obtaining cheaper financing.
– Dariusz Nawrot, an analyst at Noble Securities, commented on this decision.
Also this week, there were important changes in the management board of Telewizja Polsat, owned by Cyfrowy Polsat. Piotr Żak is the new acting President of the Management Board, who will also remain Vice-Chairman of the Supervisory Board. The new head of Telewizja Polsat is the younger son of Zygmunt Solorz.
The Supervisory Board “found that this is the best decision for the future and development of Telewizja Polsat.” Stanisław Janowski, who has previously served as President of the Management Board, will become a member of the Supervisory Boards of Telewizja Polsat and Polsat Media. He is to supervise “the area related to the advertising market”.
Zygmunt Solorz and his older son from his first marriage – Tobias Solorz – also sit on the Supervisory Board of Polsat TV. All three are also members of the Supervisory Board of the Polsat Plus Group.
Source: Gazeta
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