Sale by KGHM Polska Miedź S.A. of shares of MINOVA KSANTE Spółka z o.o.

Thursday, 28 August, 2008
Report no. 43/2008

The Management Board of KGHM Polska Miedź S.A. announces that the Company, as at 26 August 2008, sold 13 500 shares of MINOVA KSANTE Spółka z o.o. (an associate of KGHM Polska Miedź S.A.) back to this company, representing 30% of the share capital of MINOVA KSANTE Spółka z o.o. and granting the right to 30% of the votes at the General Meeting. 

These shares were sold based on an agreement entered into between KGHM Polska Miedź S.A. and MINOVA KSANTE Spółka z o.o. titled “Agreement for the buy-back of shares for the purpose of their retirement” dated 26 August 2008 (the Company received this information on the signing by the other party yesterday). The sale price for these 13 500 shares, having a total nominal value of PLN 1 350.0 thousand, amounts to PLN 8 542.1 thousand (PLN 632.75 per share). This amount is to be paid within two weeks of the Court registration of the decrease in the share capital of MINOVA KSANTE Spółka z o.o. due to the retirement of the shares acquired based on the above agreement. The shares sold are of a long-term, equity investment nature, and their carrying amount was PLN 1 309.0 thousand. 

Following this transaction KGHM Polska Miedź S.A. no longer owns any of the share capital of MINOVA KSANTE Spółka z o.o. 
The criteria used for describing the assets as significant is that the financial assets sold by KGHM Polska Miedź S.A. exceed 20% of the share capital of MINOVA KSANTE Spółka z o.o. 

Legal basis: § 5 sec. 1 point 1 of the Decree of the Minister of Finance dated 19 October 2005 regarding current and periodic information published by issuers of securities (Journal of Laws from 2005 No. 209, item 1744)