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Current Report No. 19/2010

09.07.2010 00:00

Completion of the public offering

The Management Board of TAURON Polska Energia S.A. (“the Company”) hereby provides information on the completed public offering of Series B and C ordinary shares of the Company with a par value of PLN 1 each (Series AA shares with a par value of PLN 9 each after consolidation):

1. Subscription start and completion dates:
Subscription period for individual investors: 9 June 2010 – 18 June 2010,
Subscription period for institutional investors: 22 June 2010 - 24 June 2010.

2. Date of allotment: 25 June 2010.

3. Number of offered shares:
7,389,300,798 Series B and C ordinary bearer shares, including:
a) shares offered to individual investors: 1,847,325,195 shares;
b) shares offered to institutional investors: 5,541,975,603 shares.
After share consolidation process, the final number of the offered shares amounted to 821,033,422 Series AA shares including:
a) shares offered to individual investors: 205,258,355 shares;
b) shares offered to institutional investors: 615,775,067 shares.

4. Reduction rate:
Individual investors: 37.73% in the case of purchase orders for the maximum number of shares, i.e. 1,500 shares after consolidation.
Institutional investors: 0.0% (institutional investors subscribed for the number of shares indicated in the invitations they received after completion of the bookbuilding process).

5. Number of shares subscribed for in the offering:
933,489,372 Series AA shares, including:
a) individual investors: 317,714,305 shares;
b) institutional investors: 615,775,067 shares.

6. Number of shares allotted in the offering:
821,033,422 Series AA shares including:
a) individual investors: 205,258,355 shares;
b) institutional investors: 615,775,067 shares.

7. Issue price: PLN 5.13 per one Series AA share with a par value of PLN 9, i.e. PLN 0.57 per Series B and C shares with a par value of PLN 1 before consolidation.

8. Number of individuals who subscribed for the offer shares:
231,173 investors including:
a) 231,052 individual investors; 231,052 valid purchase orders were filed (each investor could place only one purchase order). The maximum number of shares for which an individual investor could subscribe was 1,500 (after consolidation at 1:9 ratio). 191,364 purchase orders were placed for the maximum amount of shares,
b) 121 institutional investors.

9. Number of individuals that were allotted the offer shares: 231,173 investors including:
a) 231,052 individual investors; Maximum Allotment was set at 934 shares. Investors who subscribed for 934 or fewer shares were allotted the shares as subscribed. Investors who subscribed for over 934 shares (maximum 1,500) pursuant to the Maximum Allotment Principle received 934 shares (105,934 shares that were not allotted to investors pursuant to Maximum Allotment Principle were allotted investors, starting from the largest subscriptions, i.e. for 1,500 shares, and one share was allotted to each subscription until all the shares were allotted. Thus, some investors received 935 shares).
b) 121 institutional investors.

10. Names of underwriters who took up shares pursuant to underwriting agreements: Pursuant to underwriting agreement concluded on 1 June 2010 the underwriters were: UBS Limited with registered Office in London, Unicredit Bank Austria AG with registered office in Vienna, Merrill Lynch International with registered office in London, ING Bank N.V. London Branch with registered office in London, BRE Bank S.A. with registered office in Warsaw and Powszechna Kasa Oszczędności Bank Polski S.A. with registered Office in Warsaw. As all the shares were subscribed for and paid by investors, the underwriters did not take any shares in the Company pursuant to underwriting agreements.

11. Value of the Public Offering understood as the number of the offered shares multiplied by the issue price: PLN 4,211,901,454,86 gross

12. Total estimated costs borne by the Company and treated as the costs of the offering, by type:
a) costs of preparation and organization of the offering: PLN 5.8 million,
b) costs of underwriters’ fees (separately): not applicable,
c) costs of drafting of the Prospectus, including advisory fees: PLN 8.4 million,
d) costs of promotion: PLN 2.9 million. Overall costs connected with the public offering and borne by the Company amounted to PLN 17.1 million. The method applied for settlement of costs listed in item 12 in the Company’s books: the costs of the offering of the existing shares will be recognised as costs in a given period and will be recognised in the periodical financial statement of the Company. The costs listed in this item do not include the costs borne in connection with the public offering by the State Treasury who was the Selling Shareholder.

13. Average cost of subscription borne by the Company per one offered share was PLN 0.02. The cost indicated in this item does not include the costs borne in connection with the public offering by the State Treasury who was the Selling Shareholder.

 Article 56 section 1 of the Act on Public Offering – current and periodic information § 33 section 1 of the Decree of the Minister of Finance of 19 February 2009 on current and periodic information disclosed by issuers of securities and conditions for recognising as equivalent information required by the laws of a non-member state
 

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