Report No. 15/2014

25.02.2014 16:51
Decision of the Polish Financial Supervision Authority stating that there were no grounds for objections against the acquisition of shares of Nordea Polska Towarzystwo Ubezpieczeń na Życie S.A. – fulfillment of a condition precedent related to a material agreement

Legal basis:

§ 5 Section 1 item 4 of the Ordinance of the Minister of Finance of 19 February 2009 on current and periodic information published by issuers of securities and on conditions under which such information may be recognised as being equivalent to information required by the regulations of law of a state which is not a member state.

Content of the Report:

With reference to the report No. 37/2013 dated 12 June 2013 concerning the conclusion between PKO Bank Polski S.A. (the “Bank”) and Nordea Bank AB (publ), a company registered in Sweden, of an agreement relating to the acquisition by the Bank of shares in Nordea Bank Polska S.A. (“Nordea Bank Polska”), Nordea Polska Towarzystwo Ubezpieczeń na Życie S.A. (“Nordea Life Polska”) and Nordea Finance Polska S.A. (the “Agreement”, the “Transaction”), the Bank hereby announces that on 25 February 2014 the Polish Financial Supervision Authority (“PFSA”) issued a decision stating that there were no grounds for objections against the acquisition by the Bank of shares of Nordea Life Polska (“Nordea Life Polska Decision”) in a number resulting in exceeding a 50% stake in the share capital and the total number of votes at the general meeting of Nordea Life Polska. Obtaining the Nordea Life Polska Decision satisfies another condition precedent for the closing of the Transaction set out in the Agreement.

In this situation, the last condition precedent for the closing of the Transaction set out in the Agreement is this relating to obtaining PFSA’s decision declaring no grounds for objections against acquisition by the Bank of shares of Nordea Bank Polska in a number resulting in exceeding a 50% stake the share capital and in the total number of votes at the general meeting of Nordea Bank Polska or to the lapse of the statutory periods within which such objections can be declared by the PFSA.

Contact for Investors

Dariusz Choryło

Director of Investor Relations
dariusz.chorylo@pkobp.pl

Investor Relations Department
ir@pkobp.pl