Current Report No. 49/2016: InvestCapital Malta Ltd. acquires shares in the increased share capital of SECAPITAL S.à r.l.

The Management Board of KRUK S.A. (“Company”) announces that on May 31st 2016, the share capital of SECAPITAL S.à r.l. of Luxembourg (SECAPITAL), KRUK’s subsidiary, was increased from PLN 1,017,759,000 to PLN 1,111,395,000, through an issue of 93,636 new Category A shares, with a par value of PLN 1,000 per share and total par value of PLN 93,636,000.
All of the new shares were subscribed for by InvestCapital Malta Ltd. (InvestCapital), the Company’s subsidiary. The new shares represent 8% of SECAPITAL’s share capital. The carrying amount of the shares in the Company’s accounting books is PLN 1.1 thousand per share.
Following the share capital increase, InvestCapital holds 400,253 shares with a par value of PLN 1,000 per share and total par value of PLN 400,253,000, while KRUK S.A. holds directly 711,142 shares with a par value of PLN 1,000 per share and total par value of PLN 711,142,000. The total number of shares held by KRUK S.A., directly and indirectly, is 1,111,395, and their total par value is PLN 1,111,395,000. The shares were acquired at par value and paid for in cash. The cash contribution was financed with proceeds from InvestCapital’s share capital increase by the Company. The shares will be treated as a long-term investment. The cash raised by SECAPITAL will be used to finance the purchase of shares in Presco Investments S.à r.l.
Shares held directly by the Company represent 64% of the share capital and confer 64% of the voting rights at the general meeting of SECAPITAL. The total number of shares held by the Company, both directly and indirectly, represents 100% of the share capital and confers 100% of the voting rights at the general meeting of SECAPITAL.
At present, no personal links exist between the Company and SECAPITAL.
The criterion based on which the acquired shares are considered significant assets is that the value of the shares exceeds 10% of the Company Group’s revenue for the last four financial quarters.
Detailed legal basis: Par. 5.1.1 of the Regulation of the Minister of Finance of February 19th 2009 on current and periodic information […]