Transfer of the contribution to the subsidiary

21 Dec 2010

The Management Board of Cyfrowy Polsat S.A. (the Company) hereby gives notice that on December 20, 2010, the Company concluded an agreement with Cyfrowy Polsat Trade Marks Sp. z o.o. (CPTM), regarding the transfer of the contribution in a kind to cover the share of the Company in an increased share capital of its wholly-owned subsidiary.

The agreement provides the Company to transfer to CPTM a contribution in of an organized part of the enterprise of the Company, forming a branch under the name of Cyfrowy Polsat Spółka Akcyjna Oddział w Warszawie with its registered office in Warsaw, at ul. Chałubińskiego 8 (the Branch), in order to cover 1,230,880 newly issued shares of the nominal value of PLN 500 each, acquired by the Company in the increased share capital of CPTM. The value of transferred contribution amounts to PLN 615,440,000.

On December 17, 2010 the Extraordinary General Shareholders Meeting adopted the resolution no 11, regarding the approval for the disposal of an organized part of the enterprise of the Company, forming the Branch, what the Company informed in the current report no 36/2010, dated on December 17, 2010.

The disposal of the Branch through its contribution as an in kind contribution in order to cover the Company's share in the increased share capital of CPTM is intended to reorganize the Company by segregating its core business of broadcasting radio and television programs, mobile phone services and internet provider business from non-core business of management of fixed assets and equipment, as well as intellectual property management.

The Agreement was considered significant as its value exceeds 10% of the revenues for the past 4 financial quarters.

Legal basis: Art. 56 sec. 1 item 2 of the Offering Act in connection with § 5 sec. 1 item 1 of the Finance Minister's Regulation of 19 February 2009 on current and periodic information submitted by securities' issuers and the conditions for recognizing as equivalent the information required by the laws of a state that is not a member state.

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Last updated 10/21/2014