Termination of Global Depositary Receipt Program

Source: RNS
RNS Number : 4151W
Bank Pekao S.A.
21 December 2021


21.12.2021 - Report 35/2021: Termination of the Global Depositary Receipt Program

Bank Polska Kasa Opieki Spółka Akcyjna ("Bank") informs that on 21 December 2021, the Bank directed to The Bank of New York Mellon, the entity acting as a depositary ("Depositary") under the program ("Program") of Bank's global depositary receipts ("GDRs") issued under Rule 144A of the US Securities Act of 1933 and Regulation S of the US Securities Act of 1933 ("Depository Receipts") order to terminate the Program as of 31 March 2022. The bank decided to terminate the Program due to insignificant liquidity and a significant decrease in the number of GDRs.

Following the Program termination date, the owners of the GDRs will be entitled to receive the Bank's shares from the Depository in a number corresponding to all the GDRs owned by a given investor.

Following the Program termination date, the Depositary will no longer register any transaction concerning the GDRs. Similarly, it will not transfer any dividends paid by the Bank, if any, to the GDR owners. Any potential dividend will be transferred to investors along with the Bank's shares issued in return for the GDRs.

Following the expiry of one year after the termination date of the Program, the Depositary will be entitled to sell the shares represented by the GDRs which will not have been converted into the Bank's shares. Owners of such GDRs will be entitled to receive the proceeds obtained by the Depositary from the sale of such Bank's shares.

Detailed information regarding the process of converting the GDRs into the Bank's shares and the rights of the owners of GDRs in connection with the termination of the Program will be provided by the Depositary to the owners of GDRs.

In connection with the termination of the Program, the Bank will take actions in order to terminate by the end of March 2022: the listing of the GDRs on the Official List of the Financial Conduct Authority, the admission of the GDRs to trading on London Stock Exchange plc ("the London Stock Exchange"), quotation of the GDRs on the Stock Exchange Automated Quotation System of the London Stock Exchange and trading on the PORTAL market operated by NASDAQ.

Legal basis: § 18 item 2 of the Minister of Finance Regulation of 29 March 2018 on the information provided by issuers of securities on an on-going basis and periodically as well as on the terms and conditions of finding the information required by the laws of non-member states as equivalent

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