Legal basis: Art. 56.1.1 of the Act of 29 July 2005 on public offering and terms and conditions of introducing financial instruments to the organized trading system and on public companies The report: In connection with the notification dated 29.6.2006 of the delay in publishing confidential information filed with the Polish Securities and Exchanges Commission pursuant to Art. 57.1 of the Act of 29 July 2005 on public offering and terms and conditions of introducing financial instruments to the organized trading system and on public companies, the Management Board of Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna (“PKO BP SA”) hereby informs that on 29 June 2006, a letter of intent (“Letter of Intent”) was entered into by and between PKO BP SA and the National Fund for Environmental Protection and Water Management (the “Fund”) for the purchase of shares in Bank Ochrony Środowiska S.A. in Warsaw (“BOŚ”). Pursuant to the Letter of Intent
- The Parties agreed that upon the purchase by PKO BP SA under a public offering (of which offering PKO BP SA informed in its Current Report no. 35/2006 of 6 July 2006) of a block of shares in BOŚ, PKO BP SA and the Fund will negotiate in good faith to agree on an option agreement setting out terms and conditions for the sale of the BOŚ shares purchased by PKO BP SA under the offering. By the date of publication of this report, the parties have not entered into the option agreement.
- PKO BP SA declared that it intends to maintain the block of BOŚ shares purchased under the offering until the day of exercise of the option referred to above, not longer, however, than for three years from the day of its purchase.
- PKO BP SA deems indispensable the continuation of the existing statutory mission of BOŚ.
In accordance with the notification filed with the Polish Securities and Exchanges Commission, this information was to be published by 30 September 2006.