News
Announcement on the exchange of shares
2020. 07. 29.

The Board of Directors of CIG Pannónia Life Insurance Plc. (Registered office: 1033 Budapest, Flórián tér 1; company registration number: 01-10-045857; “Company”) at its meeting held on June 29, 2020 - as previously notified the Dear shareholders and capital market participants – with its resolution no. 47 / 2020.06.29. decided to increase the share capital of the Company, as a result of which it increased from HUF 3,116,132,580 to HUF 9,442,826,000.

The share capital increase was carried out by the Company in such a way that the nominal value of 94,428,260 dematerialized ordinary shares holding voting rights, each with a nominal value of HUF 33 (series “A” ) was increased to HUF 100 per share. This change was registered by the Capital Company Registry Court with its resolution no. Cg.01-10-045857/411, as a result of which the share capital of the Company currently consists of 94,428,260 series “A” ordinary shares giving the same rights, each with a nominal value of HUF 100.

 

In view of the increase in the share capital and the change in the nominal value, one dematerialized ordinary share with a nominal value of HUF 33 will be replaced by one dematerialized ordinary share with a nominal value of HUF 100, in connection with which the holder of each ordinary share with a nominal value of HUF 33 will be entitled to one ordinary share with a nominal value of HUF 100 to be credited on its securities account. All rights and obligations related to the new shares are fully equal to the rights and obligations related to the previous shares in accordance with the provisions of the Articles of Association of the Company in force and with the Act V of 2013 on the Civil Code.

The date of the share exchange is 7 August 2020. On this day, the new shares with a nominal value of HUF 100 will be created, and at the same time the previous shares with a nominal value of HUF 33 will be canceled. Shareholders according to the closing account status at the time of the cancellation of the shares with a nominal value of HUF 33 will participate in the share exchange. The last trading day of the HUF 33 nominal value ordinary shares on the Budapest Stock Exchange (day D-3) is : 4 August 2020. The first trading day of the ordinary shares with a nominal value of HUF 100 on the Budapest Stock Exchange (day D-2) is: 5 August 2020.

Disclaimer: All information contained within this document 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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