News
Extraordinary announcement on the share capital increase and the amendment of the Articles of Associations
2020. 06. 29.

CIG Pannonia Life Insurance Plc. (registered seat: H-1033 Budapest, Flórián tér 1.; company registry number: Cg.01-10-045857; hereinafter: the “Company”) hereby notifies its shareholders and other capital market participants that today, the Board of Directors of the Company decided, based on the authorization of the General Meeting, to increase the share capital of the Company by HUF 6,326,693,420, ie six billion three hundred and twenty-six million ninety-three thousand four hundred and twenty Hungarian forints, as result of which the share capital of the Company increases to HUF 9,442,826,000, ie to nine billion to four hundred and forty-two million to eight hundred and twenty-six thousand Hungarian forints.

The share capital increase will be carried out by the Company in such a way that the nominal value of 94,428,260 (ie ninety-four million four hundred and twenty-two hundred and sixty) dematerialized ordinary share (serie A) with nominal value of HUF 33 (ie thirty-three Hungarian forints) will be increased with HUF 100 (ie one hundred Hungarian forints) per share (ie the method of implementing the share capital increase: increasing the nominal value of the shares).

The Board of Directors states that in order to increase the share capital to the expense of the share capital the capital included in the balance sheet of the business year closed with the last financial report provides cover.
 
At the same time the Board of Directors decided to amend the Articles of Association in accordance with the capital increase.
 
The shareholders have no obligations in connection with the amendment of the share capital, the number of shares is not affected by the amendment. The Company will inform its shareholders of the subsequent share exchange.
 
Disclaimer: All information contained within this article is for information purposes only, and shall not be considered an official translation of the official communication referred to herein. This document does not include the integral wording of the official communication referred to herein, the original Hungarian language version of it remains to be the solely legally binding material in the subject matter. For further information, please do not hesitate to contact us.
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