Pursuant to article 5(1.9) of the Decree of the Minister of Finance of 19 October 2005 on current and periodic information disclosed by issuers of securities (Journal of Laws of 2005, No. 209, item 1744) the Management Board of Telekomunikacja Polska S.A. (“TP S.A.” or “the Company”) hereby informs that on 28 January 2009 it received information that on 19 January 2009 the District Court for Warsaw had registered an increase in the share capital of Virgo S.A. (“Virgo”), a subsidiary of TP S.A.
Virgo’s share capital was increased from PLN 50,000.00 to PLN 289,262,000.00, that is by PLN 289,212,000.00. The increase was effected through the issue of 578,424 new equal and indivisible shares of the nominal value of PLN 500 each or the aggregate nominal value of PLN 289,212,000.00.
The new shares were taken up by the sole shareholder, TP S.A., against a non-cash contribution in the form of receivables amounting to PLN 289,212,000.00 and resulting from loan agreements concluded between Virgo (as the borrower) and the Company (as the lender) on 21 July 2005 for PLN 220 million, on 21 July 2005 for PLN 8.4 million, on 21 July 2005 for PLN 500,000 and on 22 March 2007 for PLN 18.6 million, with subsequent annexes, including principal debt and capitalised accrued interest.
Following the registration, the share capital of Virgo amounts to PLN 289,262,000.00 and is divided into 578,524 equal and indivisible shares of the nominal value of PLN 500 each. The Company holds a 100% stake in Virgo, which corresponds to the same percentage of votes at the Shareholders’ Meeting.
The purpose of the transaction was to straighten up Virgo’s assets and equity plus liabilities structure, particularly through adjusting the amount of its share capital to the assets held.
12/2009 Increase in the share capital of Virgo – Orange Polska
29 January 2009