News

New listing of COLUMBUS ENERGY

The company COLUMBUS ENERGY S.A. was newly listed on the GPW Main Market on 12 April 2023.
COLUMBUS ENERGY S.A. is the 416^th company listed on the Main Market and the fifth new listing on the Main Market in 2023.

Key information

*based on the average price of the Company’s shares on NewConnect over the last 3 months preceding the date of the application for admission, equal to PLN 7.92

ISSUER’S HISTORY AND BUSINESS
Shares of COLUMBUS ENERGY SPÓŁKA AKCYJNA (“Company”, “Issuer”), originally operating in the IT sector under the (later changed) company name STI GROUP S.A., have been listed on NewConnect since 2011.
In 2014, the Company’s name was changed to COLUMBUS CAPITAL S.A., and the Company started its equity investment business. 
Subsequently, in 2016, the Company changed its name from COLUMBUS CAPITAL S.A. to COLUMBUS ENERGY S.A. The name change was a consequence of an increase in the Company’s share capital and the merger of COLUMBUS CAPITAL S.A. with COLUMBUS ENERGY S.A.
Currently, the Issuer together with its 14 subsidiaries and associates forms a Group (“Group”).
According to the Management Board, the Group is a leader in the sale of photovoltaic systems and one of the largest developers of photovoltaic farm projects in Poland.

The Group operates four core business segments:

• design, sales and installation services for energy systems based mainly on photovoltaics for households and businesses;
• implementation of photovoltaic farm projects for own use for generation and large-scale energy storage projects (the potential sale of selected photovoltaic farms is also related to this segment);
• sales and installation of heat pumps for individual customers;
• sales of other products and services, such as energy storage, chargers, and financial intermediation services.

CHARACTERISTICS OF ADMITTED FINANCIAL INSTRUMENTS
The Company’s share capital is equal to PLN 129,982,198.50 and is divided into 68,773,650 shares with a nominal value of PLN 1.89 per share, including:

• 40,479,877 series A1 ordinary bearer shares,
•   3,997,356 series B ordinary bearer shares,
• 10,989,010 series C ordinary bearer shares,
•   3,807,407 series D ordinary bearer shares,
•   9,500,000 series E ordinary bearer shares.

Issue of series A1 shares
Number of shares: 40,479,877 (including: 2,143,200 shares formerly designated as series A and B shares and 38,336,677 shares formerly designated as series C-F shares).
The shares, previously designated as series A-F shares, were issued between 2011 and 2016. The shares were acquired for cash and non-cash contributions. In 2018, the shares issued in series A-F were amalgamated at a ratio of 7:1 and designated as series A1. All series A1 shares are/were listed on NewConnect.

Issue of series B shares
Legal basis of the issue: Resolution of the EGM of 10 February 2021
Number of shares subscribed and paid: 3,997,356
Issue price: equal to the nominal value  
Issue value: PLN 7,555,003
Payment for the shares:  set-off of receivables for payment of the share issue price against investors’ receivables under the series E bonds issued by the Company.
On 8 January 2021, the Company received declarations from all bondholders who had taken up the series E bonds issued by the Company. In the declarations, the bondholders expressed their intention to exercise their right to convert their series E bonds into new issue shares. In February 2021, in order to exercise the contractual right to convert the series E bonds into shares, agreements were signed for the Company to purchase the bonds for cancellation and an offer was made to purchase new shares in the Company’s share capital in accordance with the issue value resulting from the conversion agreements.
Number of shareholders who subscribed for the shares: 13
Registered on: 5 March 2021

Issue of series C shares
Legal basis of the issue: Resolution of the EGM of 10 February 2021
Number of shares subscribed and paid: 10,989,010
Issue price: PLN 2.73
Issue value: PLN 29,999,997
Payment for the shares: set-off of receivables for payment of the share issue price against investors’ receivables under loans granted to the Company
Number of shareholders allotted the shares: 4 entities
On 8 January 2021, the Company received declarations from investors expressing their intention to exercise their conversion rights under their loan agreements and, as a result, the Company issued series C shares.
Registered on: 5 March 2021

Issue of series D shares
Legal basis of the issue: Resolution of the EGM of 10 February 2021
Number of shares subscribed and paid: 3,807,407
Issue price: equal to the nominal value  
Issue value:  PLN 7,195,999
Number of shareholders who subscribed for the shares: 2 persons
Payment for the shares:  set-off of receivables for payment of the share issue price against investors’ receivables under loans granted to the Company
On 8 January 2021, the Company received declarations from investors expressing their intention to exercise their conversion rights under their loan agreements and, as a result, the Company issued series D shares.
Registered on: 5 March 2021

Issue of series E shares
Legal basis of the issue: Resolution of the Management Board of the Company of 10 February 2021 on the increase of the share capital within the framework of authorised capital
Number of shares subscribed and paid: 9,500,000
Issue price: equal to the nominal value  
Issue value: PLN 17,955,000
Payment for the shares:  cash contributions were issued as part of an incentive scheme for employees and associates (Management Scheme)
Number of shareholders allotted the shares: 110
Registered on: 13 July 2021

Selected consolidated financials presented under IFRS (PLN’000):

Financial instruments newly listed on the Main Market:

• 40,479,877 series A1 ordinary bearer shares,
•   3,997,356 series B ordinary bearer shares,
• 10,989,010 series C ordinary bearer shares,
•   3,807,407 series D ordinary bearer shares,
•   9,500,000 series E ordinary bearer shares.