PPL continue to say that no finance can be raised by other shareholders to pay for maintenance or resolutions passed without their approval and their approval is conditional on acquiring at least 50.01% ownership of the airport
The Mazowieckie Voivodeship which owns a third of the shares in Modlin is now looking to alternatives that would mean that PPL is no longer involved with the airport, this includes buying PPL shares itself perhaps in conjunction with some external private investors.
The problem is that such arrangement would have to be approved by all investors apart from PPL, one of which is the Military property agency who ultimately is accountable to the Polish Minister for Defence, who would most likely side with PPL on this.
If the issue is not resolved soon, it is likely that the Airport Management will take PPL to court on the basis that s shareholder is acting in a way which is to the detriment of the company and therefore should have it's voting rights suspended.