2017.01.20 18:36 Current Report No. 5/2017

Warsaw, January 20th, 2017
Execution of subscription agreement for shares in Polimex-Mostostal S.A. issued as part of share capital increase and acquisition of Polimex-Mostostal S.A. shares from SPV Operator sp. z o.o.
Current Report No. 5/2017
Further to Current Report No. 4/2017 dated January 18th, 2017 ('Report') the Management Board of Polskie Górnictwo Naftowe i Gazownictwo S.A. ('PGNiG') announces that on January 20th, 2017 following the fulfilment of conditions precedent stipulated in the investment agreement executed on January 18th, 2017 (the 'Investment Agreement'), PGNiG Technologie S.A. (the 'Company') - a subsidiary of PGNiG, the Company accepted the Polimex Mostostal S.A.'s ('Polimex') Management Board's invitation to acquire in a private placement 37,500,000 Series T ordinary bearer shares with a par value of PLN 2 per share issued by Polimex at an issue price of PLN 2 per share, for a total issue price of PLN 75,000,000.
PGNiG further announces that in connection with the agreement executed with SPV Operator sp. z o.o. ('SPV Operator'), following the fulfilment of conditions precedent stipulated in the Investment Agreement, on January 20th, 2017 the Company acquired 1,500,000 shares in Polimex from SPV Operator through over-the-counter block trade.

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