News
Current report no. 1/2009 - Information on the sale of registered shares of the company operating under the brand name of Polskie Towarzystwo Reasekuracji S.A. by the Bank
Legal basis: Art. 56 section 1 item 1 of the Law of 29 July 2005 on
Public Offering, Conditions Governing the Introduction of Financial Instruments to
Organized Trading, and Public Companies
Bank Handlowy w Warszawie
S.A. (hereinafter referred to as the „Bank”) announces that on January 12, 2009 it sold
to Fairfax Financial Holdings Limited with its seat in Ontario, Canada, all of its
17,500,000 Series A and B registered shares of the company operating under the brand
name of Polskie Towarzystwo Reasekuracji S.A. with its seat in Warsaw (“PTR S.A.”),
constituting about 16.64% of the share capital of PTR S.A. and entitling to the same
number of votes at the General Meeting of Shareholders of PTR S.A.
The sale of
shares was made as a result of the Bank’s response on November 28, 2008 to the public
tender offer to acquire all of the outstanding shares of PTR S.A. made on September 8,
2008 by Fairfax Financial Holdings Limited and in connection with the fulfillment of all
legal conditions specified in the Tender Offer.
The total price at which the
Bank sold 17,500,000 PTR S.A. shares is PLN 28,000,000.