PEGAS continues to evaluate investment opportunities

26 Aug '08

2 min read

In accordance with its growth strategy, PEGAS NONWOVENS S.A. is constantly monitoring various investment opportunities, which could lead to the fulfilment of its strategy and to a further expansion among others outside the Czech Republic through a strategic acquisition or building of production facilities.

With the objective to allow for the Company's further market growth, the increase of the production capacity and its market share, the management is also closely monitoring and evaluating opportunities for consolidation in the industry. In this respect, PEGAS entered into negotiations with other market players.

The Company hereby reports that in the period from February 2008 to June 2008 the Company was engaged in initial negotiations with respect to the potential acquisition of a stake in another company undertaking business in the same field (nonwovens) as PEGAS.

Since the disclosure of the details of the negotiations could have had an adverse effect on the process and could have consequently led to an infringement of the company's legitimate interests, in February 2008 PEGAS requested delaying of the publication of the information, in accordance with Sec 125 of Act no. 256/2004 Coll, the Capital Markets Act.

The above information has ceased to constitute inside information within the meaning of Section 124 of the Capital Markets Act, since the parties have abandoned the negotiation process.

PEGAS will continue to monitor and evaluate investment opportunities, which will enable the Company to fulfil its long-term strategy of further expansion and remain among the leaders on the nonwovens market as a premium supplier of textiles for disposable hygienic products.

PEGAS NONWOVENS s.r.o.

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