Detailed terms and conditions of issuing registered A series subscription warrants and C series ordinary bearer shares
Article 56 clause 1 item 1 of the Act on offer – confidential information
The Management Board of ARCUS S.A. of Warsaw (the “Company”) hereby publicly announces the hereto attached detailed terms and conditions of issue of A series registered shares subscription warrants and ordinary C series shares (to be assumed as a result of execution of rights granted under the warrants) approved by the Management Board on 18th December 2008, in accordance with the authorisation granted to the Company’s Management Board in § 10 of resolution No. 3 of the extraordinary meeting of Shareholders dated 14th October, on issue of A series subscription warrants with the right to assume ordinary C series shares, including reservation that the existing shareholders are not entitled to subscribe these warrants or C series shares, dematerialisation of the shares and applying for permission to trade them in a regulated market, as well as amendment of the Company’s Articles of Association due to the issue of C series shares (which was officially declared by the Company in its current reports no. 52/2007 and dated 14th October 2008).
Also, in relation to the requirement presented in Chapter II clause 1 item 12) of “Good Practiced of Companies Listed on the Stock Exchange”, the Management Board forecasted the costs of issue of the above outlined warrants and shares at approximately PLN 95 000, assuming issue of maximum number of shares and warrants. According to the requirements of MSSF 2, the difference between the fair value and the price at which the C series shares will be assumed by shareholders will be presented in the consolidated financial statement as costs.
Appendix No. 1 to current report no. 59/ 2008
Warsaw, 18th December 2008
DETAILED TERMS AND CONDITIONS OF ISSUE OF SUBSCRIPTION WARRANTS AND C SERIES ORDINARY SHARES IN ARCUS S.A. OF WARSAW (“Company”, “Issuer”)
Issue of A series registered subscription warrants and C series bearer shares – Offer Schedule
18th December 2008 – Publication of Detailed Terms and Condition of Issue in a Current Report
2nd – 16th February 2009 – Subscription of Offered Warrants. Registration for Offered Warrants and payments for Offered Shares
by 25th February 2009 – Allocation of Offered Warrants
by 26 February 2009 – Issue of documents for Offered Warrants
by 27 February 2009 – Filing of statements on assumption of shares in execution rights under the Offered Warrants
The Company reserves the right to change the above deadlines for performance of individual activities within the Offer. The Company will publicly announce information on such changes in a Current Report, at the latest on the working day preceding the changed deadline.