Profil:
JSW SAJSW coal board agrees to redeem PLN 100 mln rainy-day fund's investment certificates
Listed coking coal group JSW's management board has agreed to redeem the rainy-day fund's C- and G series certificates with a total estimated value of PLN 100 million (EUR 23.3 mln), JSW said in a market filing.
"The management board of Jastrzebska Spolka Weglowa S.A. hereby reports that today it adopted a resolution to grant its consent to the redemption of 34,691 series C and 34,690 series G Investment Certificates of the JSW Stabilisation Closed-end Investment Fund (FIZ) with a total estimated amount of PLN 100.0 million," the group said in the market filing.
As reported, in 2025, the management board has agreed to redeem closed-end investment fund investment certificates with a total estimated value of PLN 2.25 billion (EUR 524.7 mln).
After the certificates' redemption, the value of the investment in the company's rainy-day fund asset portfolio, according to the valuation as of March 31, 2025, is estimated at approximately PLN 1.69 billion (EUR 394.1 mln).
JSW pointed out that the decision requires the consent of the group's supervisory board which is to be reported in a separate current report.
The company's stabilisation closed-end investment fund (FIZ) was established to stabilise financial liquidity and curtail the impact of the risk of volatility of coal and coke prices on maintaining the continuity of JSW's operations and investments.
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