Getin Noble Bank (GNB)

1.41PLN
-0.70% 17:00

Current report 53/2014

26.03.2014

CONCLUSION OF AN AGREEMENT OF TARGET SIGNIFICANT VALUE

The Management Board of Getin Noble Bank S.A. (“Issuer”) hereby announces that on 25 March 2014 the Issuer concluded with Open Life Towarzystwo Ubezpieczeń Życie S.A. with its registered office in Warsaw (“Open Life”) a finance pledge agreement (“Pledge Agreement”).

The Pledge Agreement was concluded in order to secure receivable debt of Open Life resulting from deposit agreement, i.e. receivable debt arising from return of funds deposited on term deposits opened on the basis of this agreement. The Issuer as the pledger agreed to deposit as a collateral treasury bonds in the amount equal to the actual value plus interest of term deposits opened by Open Life subject to the number and value of bonds determined in the Pledge Agreement.

The finance pledge is established on dematerialized, admitted to trading on regulated market treasury bonds in the amount not higher than 977.273 (nine hundred seventy seven thousands two hundred seventy three) bonds of the nominal value of PLN 1,000.00 per bond and of market value not higher than PLN 852,716,250.00 (eight hundred fifty-two million seven hundred sixteen thousand two hundred and fifty). The bonds are deposited on the brokerage account kept for the Issuer by Brokerage House Noble Securities S.A. with its registered office in Warsaw.

The pledge shall be established not earlier than prior to the date the Term Deposits resulting from deposit agreement are opened. The Issuer shall inform on the establishment of pledge on assets of significant value in a separate report.

The basis to issue this report is the target value of the planned finance pledge which may be in excess of 10% of the Issuer’s equity.

The subject matter of the deposit agreement mentioned above is opening term deposits in favour of Open Life (“Term Deposits”) in Polish zloty, into which Open Life shall monthly transfer funds from current premium of customers after their previous investing in capital investment funds. The Issuer, on the basis of the order of Open Life, shall increase the Term Deposit by appropriate values.

Legal basis: Article 56(1)(2a) of the Polish Act of 25 July 2005 on public offering and the conditions for introducing financial instruments into an organized trading system and on public companies (Journal of Laws No. 184 item 1539 of 2005 later amended) in connection with §5 (1)(1) of the Minister of Finance Regulation of 19 February 2009 on current and periodic reporting by issuers of securities and the rules of equal treatment of the information required by the laws of non-member states.