Maciej Stańczuk is again the president of Rafako. He faces the task of reducing the company's debt

Luc Williams

The company announced in a statement that the Rafako supervisory board made changes to the composition of the management board. Maciej Stańczuk returned to the position of president. As explained, his task will be to convert the company's debt and finalize the transaction with a potential strategic investor who has recently expressed interest in investing in Rafako.

Rafako debt relief in exchange for shares

“In the opinion of the supervisory board, recent months have not brought any significant breakthrough in the future of Rafako, nor have they led to any significant progress in the process of converting the company's debt into new issue shares. Rafako's creditors invariably make consent to the debt relief of Rafako, in exchange for shares, conditional on finding an investor. “- indicated in the announcement.

According to the information provided by the company, the supervisory board concluded that the solution proposed by the new president, aimed at attracting a foreign investor, is realistic and – provided that all Rafako stakeholders agree – is the only chance to save the company. Maciej Stańczuk undertook to agree as soon as possible with the potential investor to sign a letter of intent, which would present the actual structure of the investor transaction and the concept of ensuring financial liquidity for the company until the transaction is finalized – it was added.

“Therefore, the supervisory board decided to once again entrust Mr. Stańczuk with the position of president of the company's management board and set him the task of implementing an investment process that is crucial from the perspective of its further operation. Maciej Stańczuk knows the company very well, in the period from June 29, 2021, he served as vice-president of Rafako Then, from June 7 to October 5, 2023, he served as the president of the company's management board,” it said. Rafako is a joint-stock company listed on the Warsaw Stock Exchange. It is a contractor of power units and a manufacturer of equipment for the energy industry.


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