EP ENERGY CONTINUES THE PROCESS OF THE PROCEDURE TO OPTIMIZE ITS CAPITAL STRUCTURE
EP Energy (“the Company”) continues the process of the procedure to optimize its capital structure via non-cash decrease of its share capital. On 14 August 2014 the transaction was approved by CE Energy, the sole shareholder of the Company. The intention to decrease the share capital was registered by the Commercial Register Court.
When completed, the share capital shall be decreased from CZK 19,569,097,548 to CZK 12,844,053,036 through reduction of the nominal value of all the shares. No cash distribution is expected to be made to the sole shareholder from the decreased share capital. The relevant claim will be set-off against the Company’s receivables vis-à-vis CE Energy, Energetický a průmyslový holding or other similar claims.