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Information about issue price of series B shares, final number of offer shares and conclusion of underwriting agreement

  • No. of the report: 2/2009
  • Report date: 27.10.2009
  • Report legal ground: Other regulations

Contents of the report

In accordance with the prospectus of PGE Polska Grupa Energetyczna S.A. (the “Company”) accepted by the decision of Polish Financial Supervision Authority dated October 9, 2009, as amended (“Prospectus”) and in accordance with article 54 section 3 of the Act on Public Offering, Conditions Governing the Introduction of Financial Instruments to Organised Trading, and Public Companies (Dziennik Ustaw of 2009, No. 184, item 1539, as amended), the Management Board of the Company informs that final number of Company’s ordinary series B bearer shares with nominal value of PLN 10 each, offered under the public offering by the Company (“Offer Shares”) accounts for 259,513,500 (say: two hundred fifty nine million five hundred thirteen thousand five hundred).

The number of Offer Shares allotted to retail investors amounts to 38,927,025 (say: thirty eight million nine hundred twenty seven thousand twenty five), and the number of Offer Shares allotted to institutional investors amounts to 220,586,475 (say: two hundred twenty million five hundred eighty six thousand four hundred seventy five).

On the rules described in Prospectus, prior to allotment of Offer Shares, the number of Offer Shares offered to institutional investors that have not been subscribed for by institutional investors, may be available for allotment to the retail investors and the number of the Offer Shares offered to retail investors that have not been subscribed for by retail investors, or have been subscribed for by retail investors but their subscriptions have been withdrawn (as a result of evasion of legal consequences of subscription) in accordance with the conditions set out in the Prospectus, may be available for allotment to the institutional investors in the institutional offer.

In addition, Company informs that issue price of Offer Shares for retail investors and institutional investors is PLN 23.00 for one Offer Share.

Overall demand for Offer Shares by retail and institutional investors at the price of PLN 23.00 accounted for PLN 45 billion. Initial number of shares subscribed for by retail investors was app. 1,113 million Offer Shares. The Management Board of the Company decided to offer 15% of the total number of the Offer Shares to retail investors. As of the report date the reduction rate for retail investors is estimated at approximately 96.5%. The Company also advises that on October 27, 2009 the Company entered into underwriting agreement on terms described in the Prospectus.

Legal ground: Art. 54 section 3 of the Act on Public Offering, Conditions Governing the Introduction of Financial Instruments to Organised Trading, and Public Companies.
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