Kernel minority shareholders given six months to sell shares at price set by Luxembourg regulator

The Luxembourg Financial Sector Supervisory Commission (CSSF) has determined the fair value of shares in Kernel Holding S.A. as part of the mandatory sell-out procedure for minority shareholders. The price has been set at PLN 19.93 (EUR 4.65) per share, according to the company's filing with the Warsaw Stock Exchange.

The CSSF's decision follows its review of objections submitted by certain minority shareholders regarding the buyout price proposed by the majority shareholder, Namsen Limited. The objections were filed as part of the sell-out procedure that Kernel first announced in July 2025.

The regulator has also set a six-month period for the sell-out process, which will remain open until December 29, 2026. During this period, minority shareholders who have not yet exercised their right to require the purchase of their shares will be able to sell them at the price determined by the CSSF.

Namsen Limited and Kernel Holding will announce the settlement date and payment terms at a later stage.