3rd Sep 2008 17:09
UNOFFICIAL TRANSLATION
Report 76/2008: Enclosing agreement between UniCredit S.p.A. and Ministry of the State Treasury regarding put and call options of Bank Polska Kasa Opieki S.A. shares
Management Board of Bank Polska Kasa Opieki S.A. ("Bank") hereby informs that on 2nd September 2008 has received information that UniCredit S.p.A. and Ministry of the State Treasury ("MST") have signed agreement regarding put and call options of Bank shares held by MST. On the basis of this agreement the MST shall have a Put Option, while UniCredit shall have a Call Option, with respect to the shares held by the MST in Bank and summing up to approximately 3.95% of Bank's share capital.
According to this agreement, in both cases of options the price will be calculated as the volume-weighted average of the official daily quotations of Bank's shares on the Warsaw Stock Exchange S.A. for a period of six months preceding the date of exercise of the option, increased by 3%.
The put option may be exercised by the MST since the date of signing of the agreement to 30th June 2009, whilst the call option may be exercised by UniCredit S.p.A. since 23rd December 2008 until 23rd December 2009.
The MST shall have the right to terminate the agreement unilaterally until 22nd December 2008.
Upon the signing of the agreement, the Privatization Agreement dated the 23rd June 1999 regarding Bank Polska Kasa Opieki S.A., the Privatization Agreement dated the 22nd October 1998 regarding Bank BPH S.A. and the Agreement regarding Bank Pekao S.A. and Bank BPH S.A. between the MST and UniCredit S.p.A. dated the 19th April 2006 shall be deemed fully completed
Legal grounds: Section 55, subsection 1, clause 1 in connection with section 154, subsection 2 of the Act of July 29, 2005 on Public Offerings and Conditions Governing the Introction of Financial Instruments to an Organized System of Trading, and on Public Companies.
Related Shares:
BPKD.L