CloudFerro plans converting into a joint stock company

CloudFerro plans converting to joint stock company

Due to the dynamic growth of CloudFerro, we need to align its legal form to the expanding scale and business challenges. Given our ambitions and development plans, we intend to adopt a more mature form and convert CloudFerro Sp. z o.o. (hereinafter “CloudFerro”) into a joint stock company.

To this end the CloudFerro’s Board of Directors has adopted a resolution outlining the plan for the conversion of CloudFerro into a joint stock company. As a consequence of the implementation of this plan, CloudFerro will become a joint stock company on the conversion date. Its full name will be CloudFerro Spółka Akcyjna (short version: CloudFerro S.A.), where ‘spółka akcyjna’ means joint stock company. We anticipate that the conversion will take place at the end of July 2023.

What are implications of the conversion for our Business Partners?

The changed legal form will not affect CloudFerro’s business continuity. This means that the contracts entered into by CloudFerro will continue in force and effect on their existing terms. CloudFerro S.A. will assume all rights and obligations of CloudFerro.

What does the conversion involve?

The transformation is about changing the legal form of the company while maintaining continuity of its business. This means that the converted company will have all the rights and obligations of the converting company. The converted company remains holder of, for example, permits, concessions or reliefs that were granted to the company prior to its conversion. 

What is a conversion date?

The conversion date is the day when the registry court registers the converted company (CloudFerro S.A.) into the register of companies of the National Court Register (in Polish: Krajowy Rejestr Sądowy, KRS). Firstly, the shareholders in CloudFerro will decide on the conversion by way of a resolution. Subsequently, the adopted resolution will be filed with the registry court to have the company registered. The shareholders' meeting on this matter is planned to be held in the second half of July 2023.  

What will be CloudFerro’s share capital?

The share capital of CloudFerro will remain unchanged, and will amount to PLN 354,800. The shareholders in CloudFerro will become shareholders in CloudFerro S.A. proportionately to their shareholding on the conversion date. There will be no changes in the shareholding structure.

Will there be any change to the contact or registration details?

There will be no change to the registered office or business addresses of CloudFerro’s offices. Tax identification number (NIP), statistical identification number (REGON) and bank account numbers will remain unchanged. However, the registration number in the register of companies of the KRS will change as of the conversion date.   

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