Thursday, 27/11/2014

The company Sava Reinsurance Company d.d., Dunajska 56, 1000 Ljubljana, (hereinafter: Sava Re or the Company), pursuant to Article 386 of the Markets in Financial Instruments Act and in accordance with its Invitation to submit a binding offer as a shareholders of Pozavarovalnica Sava in the OTC buyback programme (published on 20 November 2014 via the SEOnet system and on the Sava Re website; hereinafter: Invitation), hereby notifies its shareholders and the public that based on valid binding offers received and in compliance with the criteria and provisions of the Invitation in the OTC buyback programme, it has determined the purchase price at which the Company will acquire Sava Re shares with ticker POSR and ISIN number SI0021110513 (POSR shares) (hereinafter: Determined price) and the amount of POSR shares that the Company is prepared to acquire under this programme (hereinafter: Purchase quantity of POSR shares), as follows:

- the Determined price per POSR share is € 16.30 and

- the Purchase quantity of POSR shares is 368,099 POSR shares.

In accordance with the procedure referred to in the Invitation, all valid binding offers made by shareholders with a price lower than the Determined price have been accepted, while binding offers at the Determined price have been accepted up to the Purchase quantity of POSR shares; 

Shareholders who have submitted a binding offer will be sent a Notice of Acceptance of Shareholder's Binding Offer (hereinafter: Notice), which will be sent today by ALTA Invest d.d. (hereinafter: ALTA) by ordinary mail or e-mail (if provided in the binding offer). 

Based on the binding offers received, Sava Re estimates that in the OTC buyback programme, it will acquire 368,099 POSR shares; however, the announcement on the actual number of shares acquired will be published via the SEOnet system and on the Sava Re website after the settlement of shares to take place on 2 December 2014. 

This announcement will be available on the Company's website at www.sava-re.si, at least five years from the date of the announcement.

distributed by