CSSF confirmed Namsen's control over 95% of Kernel shares: the position of minority shareholders appears legally unconvincing.

Luxembourg's financial regulator CSSF has officially confirmed that Namsen Limited owns over 95% of Kernel's shares. This means that the company has full entitlement to the share buyback procedure, and the position of minority shareholders appears legally weak, writes Lb.ua.

CSSF would not allow the launch of this process if there were any doubts about Namsen's share. The regulator's recognition is a clear signal: control is stable, and attempts at appeal have no substantial grounds.

Recall that on April 13, 2023, Kernel's Board of Directors decided to delist the company's shares from trading on the Warsaw Stock Exchange. However, a group of minority shareholders (eight shareholders who together own 1.2 million shares, which constitutes 0.4% of the total number of issued shares) challenged this decision in the Luxembourg District Court, initiating five lawsuits, two of which Namsen has already won.