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CAP - Information on the establishment of the company - Content (PL)

Company: Hipower Energy Spolka Akcyjna Date: 2024-02-01 Language: English Register to download

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The Board of Directors of Arena.pl S.A. (hereinafter referred to as \_quot;the Issuer\_quot; or \_quot;Arena\_quot;)  

announces that on January 31, 2024, following the investment agreement signed on January  

15, 2024, as previously reported in report no. 2/2024, a limited liability company named  

hiPower Institute of Materials was established. Arena has acquired a 29.5% stake in this  

company, representing the same percentage of its share capital. Mr. Rafał Gnojnicki,  

nominated by Arena, has been appointed as the CEO, and Dr. Justyna Krzak as a board  

member.The company\_#39;s objective will be the development and commercialization of innovative  

materials using sol-gel technology, which is notably effective in creating coatings that act as  

an efficient hydrogen barrier. The Issuer intends to actively contribute to the development  

and value enhancement of this new venture by leveraging the synergy between its  

technological advancements, experience, and the team collaborating with hiPower Institute  

of Materials sp. z o.o.Furthermore, the Issuer clarifies that an error was made in report no. 2/2024, where it was  

incorrectly stated that Arena\_#39;s stake in the new company would be 30% of the share capital,  

instead of the correct figure of 29.5%. This error was due to an incorrect calculation of the  

share percentage in the share capital at the time of announcing the investment agreement.