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Purchase of PGE Polska Grupa Energetyczna S.A. bonds by its subsidiaries

  • No. of the report: 18/2011
  • Report date: 28.04.2011
  • Report legal ground: Art. 56 section 1 p. 2 of Act on Public Offering – current and periodic information

Contents of the report

The Management Board of PGE Polska Grupa Energetyczna S.A. (the “Company”, “PGE”) informs that on April 28, 2011 the Company issued short-term PGE bonds under PGE Bond Program of up to PLN 5 billion, dated May 11, 2009, directed to companies from PGE Capital Group (the “Bond Program”). Total nominal value of the bonds issue accounts for PLN 470,000,000. The bonds were purchased by direct PGE’s subsidiaries:

1. PGE Górnictwo i Energetyka Konwencjonalna S.A. purchased 1,000 short-term PGE bonds with nominal value of PLN 100,000,000 at unit price of PLN 99,630.80 with maturity date on May 27, 2011.

2. PGE Elektrownia Opole S.A. purchased 700 short-term PGE bonds with nominal value of PLN 70,000,000 at unit price of PLN 99,630.80 with maturity date on May 27, 2011.

3. PGE Dystrybucja S.A. purchased 1,000 short-term PGE bonds with nominal value of PLN 100,000,000 at unit price of PLN 99,630.80 with maturity date on May 27, 2011.

4. PGE Dystrybucja S.A. purchased 2,000 short-term PGE bonds with nominal value of PLN 200,000,000 at unit price of PLN 98,801.20 with maturity date on July 28, 2011.

Purchase of bonds results from policy of cash management in PGE Capital Group.

The bonds were issued in compliance with the Law on Bonds, dated June 29, 1995 (Dziennik Ustaw of 2001, No. 120, item 1300 as amended), in Polish zlotys, as bearer, dematerialised, unsecured, zero-coupon bonds.

The buyout of the bonds will be at their nominal value. The nominal value of one bond is PLN 100,000.

After the above bond issue, aggregate value of bonds issued under the Bond Program amounts to PLN 1,270,000,000 as of April 28, 2011.

Legal ground: § 5 section 1 p. 6 and § 12 of the Regulation of the Polish Minister of Finance of February 19, 2009 on current and periodic information published by issuers of securities and on conditions under which such information may be recognized as being equivalent to information required by the regulations of law of a state which is not a member state. (Dziennik Ustaw of 2009 No. 33, item 259, as amended).
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