Following publication in the Official Journal of the European Union of sanctions imposed on Viatcheslav Kantor on April 8th 2022 and following imposition on April 25th 2022 of national sanctions on Mr Kantor and his related parties: Norica Holding S.à.r.l. of Luxembourg, Opansa Enterprises Limited of Cyprus and Rainbee Holdings Limited of Cyprus, holding in total a 19.82% ownership interest in Grupa Azoty S.A., the Company announces that: Viatcheslav Kantor is not a beneficial owner of the Company within the meaning of Directive (EU) 2015/849 of the European Parliament and of the Council; Viatcheslav Kantor neither owns nor has control over the Company within the meaning of the EU sanctions legislation, including Council Regulation (EU) No 269/2014.
Imposition of the sanctions, including the national sanctions, on Viatcheslav Kantor and his related parties named above does not result in any sanctions against Grupa Azoty S.A.
Mr Kantor and his related parties named above are minority shareholders of Grupa Azoty S.A. Mr Kantor holds indirectly 19.82% of Company shares through his related parties named above. Mr Kantor does not have and has never had control over the Company because:
No criteria for the imposition, whether directly or indirectly, of any sanctions against Grupa Azoty S.A. have been met, either. The grounds for the sanctions are precisely defined in EU and national legislation and are related to Russia’s aggression against Ukraine, actions that undermine Ukraine’s territorial integrity, sovereignty, independence, stability or security, or to special relations with the government of the Russian Federation.
On July 11th 2023, the Minister of Development and Technology issued decisions on the establishment of temporary receivership for a period of six months with respect to: Norica Holding S.à.r.l. of Luxembourg, Rainbee Holdings Limited of Cyprus, and Opansa Enterprises Limited of Cyprus in order to take over the title to these entities’ shareholdings in Grupa Azoty S.A. The Minister of Development and Technology has designated Radosław Leszek Kwaśnicki as the person executing the temporary receivership. By decisions of the Minister of Development and Technology of January 10th, 2024, the validity period of the established temporary receivership was extended to 12 months.
Grupa Azoty S.A. observes all sanction regulations, condemns Russia’s aggression and any actions against Ukraine and has no relations with the government of the Russian Federation. Therefore, there is no risk of imposition of any sanctions against the Company.
Moreover, there are no grounds for changing the manner in which the Company enters into transactions with entities from the EU, the US or other countries.
As a company admitted to trading and listed on the Warsaw Stock Exchange, Grupa Azoty S.A. has no direct influence on the shareholding structure or investment decisions made by shareholders. Any capital market participant may trade in Company shares on the Warsaw Stock Exchange, subject to applicable laws and regulations.
Press release updated on January 12th 2024.