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Cyfrowy Polsat SACyfrowy Polsat's financial situation stable; group settles liabilities on schedule
Listed TMT group Cyfrowy Polsat's financial situation is stable, the group is in a safe position in terms of financial covenants, the company said in a press release.
"Cyfrowy Polsat and its capital group are operating stably, according to plan and in a normal operating mode. The situation reported in the media in recent weeks has no impact on the operational and financial activities of the company and the capital group," the company wrote in the statement.
"The group's financial position is stable, and it is consistently executing its strategy, paying its obligations to financial institutions and bondholders on schedule. The group is in a safe position in terms of financial covenants. The doubts raised by the media about the risks arising from the credit documentation are unfounded," it added.
Cyfrowy Polsat said that the repayment of the bank loans is spread in instalments and the final maturity date is 2028, while the bonds mature in 2030.
Last week, the extraordinary general meeting of Cyfrowy Polsat dismissed Tobias Solorz, son of Zygmunt Solorz, and company's long-term lawyer Jaroslaw Grzesiak from the supervisory board.
The general meeting also decided to reduce the number of members of the supervisory board of Cyfrowy Polsat to six people.
Zygmunt Solorz, through the foundations TiVi and Solkomtel, is the main shareholder of Cyfrowy Polsat with a voting stake of 62.04 percent.
seb/ ao/ nl/
