News
Extraordinary announcement on the exchange of shares
2020. 11. 30.

CIG Pannonia Life Insurance Plc. (registered seat: 1033 Budapest, Flórián tér 1.; company registered number: Cg.01-10-045857; “Company”) hereby informs the Honourable Shareholders and the participants of the capital market as follows.

 The Board of Directors of the Company with its resolution no. 47/2020.06.29. decided to increase the share capital of the Company at its meeting held on June 29, 2020 (“Share Capital Increase”). The Share Capital Increase was carried out by the Company such that the nominal value of 94,428,260, series “A”, dematerialized, ordinary shares holding voting rights, each with a nominal value of HUF 33 was increased to HUF 100 per share.

 As the Honourable Shareholders and participants of the capital market were informed, the exchange of shares required in connection with the Share Capital Increase was postponed by the Company with its announcement dated 4 August 2020. The exchange of shares was postponed (i) in order to fully comply with Regulation No. 2017/1129 of the European Parliament and of the Council of 14 June 2017, and (ii) with a view to the fact that the extraordinary general meeting of the Company held on 14 August 2020 intends to decide on the decrease of the share capital of the Company.

 Following that, the general meeting of the Company held on 14 August 2020 with its resolution No. 22/2020. (VIII.14.) resolved to decrease the Company’s share capital (“Share Capital Decrease”) as a result of which the share capital of the Company decreased from HUF 9,442,826,000 to HUF 3,116,132,580. The Share Capital Decrease was carried out by the Company such that the nominal value of 94,428,260, series “A”, dematerialized ordinary shares holding voting rights, each with a nominal value of HUF 100 was decreased to HUF 33 per share. This change was registered by the Metropolitan Company Registry Court with its resolution No. 01-10-045857/439 into the company register.

 With a view to the fact, that in the meantime, the creation by KELER Zrt. and the admission to the regulated market of the series “A”, dematerialized, ordinary shares holding voting rights, each with a nominal value of HUF 100 issued during the Share Capital Increase has become redundant due to the registration of the Share Capital Decrease by the Company Registry Court, therefore, these events had not taken place. Taking into account the fact that, as a result of the Share Capital Decrease, a new share series had been issued, the ISIN (International Securities Identification Number) of the Company’s newly issued ordinary shares, each with a nominal value of HUF 33 (series “A”) changes, therefore the Company should carry out a technical share exchange.

 In the course of the technical exchange of shares, one dematerialized ordinary share with a nominal value of HUF 33 with the old ISIN (HU0000170162) is replaced by one dematerialized ordinary share with a nominal value of HUF 33 with the new ISIN (HU0000180112). As a result of the technical exchange of shares, the holder of every one dematerialized ordinary share with a nominal value of HUF 33 with the old ISIN (HU0000170162) will be entitled to one dematerialized ordinary share of a nominal value of HUF 33 with the new ISIN (HU0000180112) 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 11 December 2020. On this day, the new shares with a nominal value of HUF 33 with the new ISIN (HU0000180112) will be created, and at the same time the previous shares with the old ISIN (HU0000170162) with a nominal value of HUF 33 will be cancelled. Shareholders according to the closing account status at the time of the cancellation of the shares with a nominal value of HUF 33 with the old ISIN (HU0000170162) will participate in the share exchange. The last trading day of the HUF 33 nominal value ordinary shares with the old ISIN (HU0000170162) on the Budapest Stock Exchange (day D-3) is: 8 December 2020. The first trading day of the ordinary shares with a nominal value of HUF 33 with new ISIN (HU0000180112) on the Budapest Stock Exchange (day D-2) is: 9 December 2020.

 We would like to inform the Honourable Shareholders that the above share exchange does not require their involvement.

 CIG Pannonia Life Insurance Plc.

 

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.

We use cookies on our website to serve our visitors as high as possible and to track activities on the site. For more information on cookies, see our Cookie Policy