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The Polish Office of Competition and Consumer Protection has approved the transaction of sale of 100% of Polkomtel shares to Spartan Capital Holdings Sp. z o.o.

  • No. of the report: 39/2011
  • Report date: 24.10.2011
  • 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. (“PGE”, “Company”) announces that on October 24, 2011 it was informed that Polish Office of Competition and Consumer Protection approved the transaction of sale of 100% of Polkomtel shares to Spartan Capital Holdings Sp. z o.o., the special purpose vehicle controlled by Mr. Zygmunt Solorz-Żak. Consequently, a condition of the preliminary agreement signed on June 30, 2011 between PGE, PKN ORLEN S.A., KGHM Polska Miedz S.A., Vodafone Americas Inc, Vodafone International Holdings B.V. and Weglokoks S.A. as the sellers (“Sellers”), and Spartan Capital Holdings Sp. z o.o., the special purpose vehicle controlled by Mr. Zygmunt Solorz-Żak, as the purchaser (“Purchaser”) for the sale of 100% of shares in Polkomtel S.A. (the “Agreement”), has been fulfilled (information on the Agreement was provided by the Company in the regulatory announcement no 29/2011 dated June 30, 2011).

In accordance with the notification received by PGE, approval for the transaction provided for by the Agreement was issued on October 24, 2011.

In connection with fulfillment of the aforementioned condition, in accordance with the procedure set forth in the Agreement, the Sellers and Purchaser will agree on the date of signing of the final agreement for the sale of Polkomtel’s shares.

Following completion of the transaction, the Purchaser will acquire 100% of the shares in Polkomtel S.A., and none of the Sellers will hold any shares in Polkomtel S.A.

Legal ground: § 5 section 1 point 4 and § 10 of the Regulation of the Minister of Finance dated 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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