Current report no : 65/2012
Report date : 12/7/2012
Abbreviated name : Ciech SA
Subject : Early buyout of A series bonds issued by Ciech SA in December 2007 carried out on December 6th, 2012 for redemption
Legal basis : Article 56 section 1 item 2 of the Act on the Offering - current and interim information
Report :
The Management Board of Ciech SA, acting pursuant to Article 56 section 1 item 2 of the Act of July 29th, 2005 on Public Offering and the Conditions for Introducing Financial Instruments to Organised Trading and on Public Companies ("Act on the Offering") and § 5 section 1 item 6 of the Ordinance of the Minister of Finance of February 19th, 2009 on Current and Periodic Information Provided by Issuers of Securities and the Conditions of Recognising as Equivalent Information Required by the Law Provisions of a Country which is not a Member State ("Ordinance"), reports that on December 6th, 2012 unsecured A series bearer bonds issued by Ciech SA in December 2007 were bought out early for redemption ("Existing Bonds") (Ciech SA reported on the issue of Existing Bonds in current report no. 76/2007).
Legal basis of purchasing the Existing Bonds.
On November 23rd, 2012 Ciech SA submitted a proposal of early buyout of the Existing Bonds of the total nominal value of PLN 300,000,000 to all A series bond holders. The Existing Bonds were bought out by Ciech SA on December 6th, 2012 upon the payment by Ciech SA of the price for the purchase of the Existing Bonds, which according to the proposal to purchase Existing Bonds was to take place within 2 working days from the settlement in the National Depository for Securities of 01 and 02 series secured bearer bonds issued by Ciech SA in the amount of PLN 320,000,000 on December 5th, 2012 (Ciech SA reported on this bond issue in current report no. 62/2012), but in any case not later than on December 7th, 2012.
Number of purchased Existing Bonds and the unit purchase price
Ciech SA, within early buyout of A series bonds, purchased 2,850 Existing Bonds of the total nominal value of PLN 285,000,000 at a price equivalent to the nominal value thereof, i.e. PLN 100,000 per each Existing Bond plus interest accrued though not paid until the day preceding the buyout of the Existing Bonds (i.e. until December 5th, 2012 inclusive). With the early buyout Ciech SA commenced the procedure of redeeming A series bonds which was planned for completion on December 10th, 2012.
Grounds of purchasing Existing Bonds
Ciech SA purchased the Existing Bonds before the maturity date thereof set on December 14th, 2012 in accordance with the terms and conditions of the issue of Existing Bonds ("Maturity Date") in order to optimise the financial expenses of the Ciech Group.
Other A series bonds which bond holders did not agree to sell prior to the maturity date of the total nominal value of PLN 15,000,000 shall be bought out on the maturity date of the A series bonds, i.e. on December 14th, 2012.
Legal basis: Article 56 section 1 item 2 of the Act on the Offering – current information as well as § 5 section 1 item 6 of the Ordinance of the Minister of Finance of February 19th, 2009 on Current and Periodic Information Provided by Issuers of Securities and the Conditions of Recognising as Equivalent Information Required by the Law Provisions of a Country which is not a Member State.
Signatures of the Company's representatives : Andrzej Kopeć – Member of the Management Board
Signatures of the Company’s Representatives : Artur Osuchowski – Member of the Management Board
