Acquisition

25th Sep 2006 17:13

Bank Pekao SA25 September 2006 UNOFFICIAL TRANSLATION (25 September, 2006) Report 96/2006: Acquiring the significant value assets The Management Board of Bank Polska Kasa Opieki S.A. ("Bank") hereby informsthat on the day of 22 September 2006, Hotel Jan III Sobieski Sp. z o.o. notifiedBank that on 19 September 2006 the District Court in Warsaw had registered thecapital increase of the company Jan III Sobieski with its registered seat atWarsaw in which Bank acquired 142 276 shares of PLN 540 value each and of totalnominal value amounting PLN 76 829 040. The acquisition price was equal to thenominal value of the shares. Following the registration the share capital of the Company is equal to PLN156 187 980.00 (say: one hundred fifty six millions one hundred eighty seventhousand nine hundreds eighty) and is divided into 289 237 shares with nominalvalue of PLN 540 (say: five hundreds forty) each. Bank owns 142 876 shares ofHotel Jan III Sobieski Sp. z o.o. constituting 49.398% of the capital andentitling to 49.398% of votes at the General Meeting of Shareholders of HotelJan III Sobieski Sp. z o.o. The acquisition of Company's shares is treated as the short term investment .Hotel Jan III Sobieski Sp. z o.o. is Bank's assiociate entity as defined in theLaw of Accounting. The assets acquired are considered significant as their valueexceeds 20% of the share capital of Hotel Jan III Sobieski Sp. z o.o. The acquisition results of Company's debt conversion to Bank. The gross and netvalue of converted debt amounts adequately PLN 76 829 040.00 and PLN45 922 418.23. Legal grounds: Section 5 Subsection 1 Clause 1 RMF of 19 October, 2005. This information is provided by RNS The company news service from the London Stock Exchange

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BPKD.L