Current Report No 33/2020: First call on warrant holders to submit Series A, B, C and D warrant certificates

Acting pursuant to Art. 16 of the Act of August 30th 2019 amending the Commercial Companies Code Act and certain other acts (Dz.U. of 2019, item 1798, as amended), the Management Board of KRUK S.A. (the “Company”) hereby gives a call notice to all holders of Series A, B, C and D subscription warrants issued by the Company to submit their warrant certificates at the Company’s registered office at ul. Wołowska 8, 51-116 Wrocław, Poland, on business days (Monday to Friday) from 9am to 1pm, for the purpose of converting them into book-entry form. Warrant certificates will be submitted to the Company against written receipts issued to the warrant holders. This call notice is the first of five calls required by law.

The Act of August 30th 2019 amending the Commercial Companies Code and certain other acts introduced mandatory conversion of all shares into book-entry form. Pursuant to Art. 328 of the Commercial Companies Code in force as of March 1st 2021, provisions concerning shares apply mutatis mutandis to subscription warrants, utility certificates (świadectwo użytkowe), promoter certificates (świadectwo założycielskie) and other entitlements to share in a company’s income or assets. The conversion of a subscription warrant into book-entry form consists in the replacement of the paper warrant certificate with an entry in a securities account. Failure to submit certificates by the prescribed deadline will prevent conversion of the relevant subscription warrants into book-entry form.

Pursuant to the amended regulations, physical certificates expire by operation of law on March 1st 2021.

The subsequent calls will be published by the Company at intervals not longer than one month and not shorter than two weeks.

Legal basis:

Art. 16.1 of the Act of August 30th 2019 amending the Commercial Companies Code and certain other acts (Dz.U. 2019.1798)