3rd Apr 2006 16:53
Bank Pekao SA03 April 2006 UNOFFICIAL TRANSLATION (3 April 2006) Current report 44/2006 Re. divestment to Pirelli RE of a 75% stake in the share capital of PekaoDevelopment Sp. z o.o. The Management Board of Bank Polska Kasa Opieki S.A. hereby informs that on theday of 3 April 2006, Bank Polska Kasa Opieki SA divested of to Pirelli & C RealEstate S.p.A. 26,572 (say: twenty six thousand five hundred seventy two) shareswith the par value of PLN 1000 each (say: one thousand Polish zlotys) of PekaoDevelopment Sp. z o.o. (Bank's subsidiary) representing the total par value ofPLN 26,572,000 (say: twenty six million five hundred seventy two thousand Polishzlotys), comprising a 75% stake in the Company's share capital, and carrying 75%of votes in the General Meeting of Pekao Development Sp. z o.o. The net bookvalue of sold shares on the balance sheet of Bank Polska Kasa Opieki Spo(3)kaAkcyjna is equal to their total par value. The shares referred to above have been divested of for the base price of PLN 60million (say: sixty million Polish zlotys). The base price may be increased toabout PLN 75 million (say: seventy five million Polish zlotys) depending upontheresult of additional appraisal provided by an auditor. Bank Polska Kasa Opieki S.A currently holds 8,858 (say: eight thousand eighthundred fifty eight) shares with the par value of PLN 1000 (say: one thousandPolish zlotys) each, representing the total value of PLN 8,858,000 (eightmillion eight hundred fifty eight thousand Polish zlotys), comprising a 25%stake in the share capital of Pekao Development Sp. z o.o. and carrying 25% ofvotes in the General Meeting of Shareholders of Pekao Development Sp. z o.o.The information is submitted as the divested shares constitutes more than 20% ofcapital of the sold company, therefore meets definition of financial assets ofsubstantial value used in the regulation. Legal basis:Section 5 subsection 1 clause 1 Decree of the Ordinance of the Minister ofFinance, dated 19 October 2005 re: current and periodical information submittedby the issuers of securities This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
BPKD.L