Kernel to issue ~7 mln new shares, according to EGM notes

Kernel (WSE: KER PW) plans to authorize its board of directors to issue up to 6,983,525 new shares within a five year period, according to proposed resolutions for an EGM to be held in June. Yegor Samusenko: Of the total amount of shares to be issued, 5.4 mln would go to Kernel’s largest shareholder, who lent them for a secondary placement the company conducted at the beginning of April. The issuance of another 1.58 mln shares is unexpected; we think they could be used either to exercise options or for another share placement. If this decision is approved by shareholders, it would bring Kernel’s fully diluted number of shares to 81,541,588.