CSSF sets Kernel Holding sell-out fair price at PLN 19.93, presentation deadline 29 December 2026
Kernel Holding minority shareholders must present all their shares by 29 December 2026 to take the CSSF-set sell-out price of PLN 19.93
Change
On 30 June 2026 the Commission de Surveillance du Secteur Financier (CSSF) set the fair price for the mandatory sell-out of Kernel Holding S.A. (Warsaw-listed, Luxembourg-incorporated) shares at PLN 19.93 per share under Article 5(6) of Luxembourg's 2012 Squeeze-Out/Sell-Out Law, above the majority shareholder's proposed PLN 19.45.
Why it matters
The CSSF decision fixes the binding exit price and the participation window. Kernel minority holders who have not already exercised their sell-out right can obtain the PLN 19.93 price only by presenting all their shares within the six-month window ending 29 December 2026; holders who do neither are excluded from the sell-out. Namsen Limited, the majority shareholder, and Kernel must publish the final payment date and conditions and pay the set price when executing the sell-out.
Implications
- — Kernel Holding minority shareholders who have not exercised their mandatory sell-out right must present all the shares they hold within the six-month window ending 29 December 2026 to receive PLN 19.93 per share — holders who neither exercise nor present their shares are excluded from the sell-out and forgo the CSSF-set price.
- — Namsen Limited, as majority shareholder, and Kernel Holding management must publish the final payment date and payment conditions and pay PLN 19.93 per share when executing the mandatory sell-out under Article 5(6) of the Squeeze-Out/Sell-Out Law.
Who is affected
- — Kernel Holding minority shareholders who have not exercised their mandatory sell-out right
- — Namsen Limited (majority shareholder) and Kernel Holding management responsible for publishing payment terms and effecting payment
What to watch
- — 29 December 2026 — final date for holders to present their securities for the mandatory sell-out at PLN 19.93 per share.