​Court confirms MND’s control of Moravia Gas Storage

The Regional Court in Brno, Czech Republic has confirmed the increase of the share capital following the subscription of new shares in Moravia Gas Storage a.s. (MGS) by MND a.s. (MND), which operates the Dambořice gas storage facility in the Czech Republic. With all regulatory approvals received, and subsequent capital registration, MND has increased its shareholding in the company from 50% to 97.37%.

Following the resolution of the General Meeting of MGS to increase its share capital in October of 2023, MND subscribed for new shares with a total nominal value of CZK 36 million.

The additional capital was granted to MGS upon its request to finance necessary technological investment and maintenance, enabling fulfilment of its contractual obligations under the storage capacity reservation agreements with EU customers.

About MND Group

MND Group produces and trades energy from both traditional and renewable sources, incorporating new, environmentally friendly innovations that contribute to the preservation of the environment. With operations in Austria, Czech Republic, Germany, and Ukraine, MND is leading the way in energy transformation in Central Europe with its expertise in drilling, geothermal wells, green hydrogen production and possible storage, and carbon capture and storage. MND Group is a member of KKCG Group, an innovation and investment group founded by entrepreneur and philanthropist Karel Komárek.