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Subscriptions commence for Bogdanka's shares

Subscriptions for Bogdanka's shares have begun today. Enea offered PLN 67.39 per share to the shareholders within the tender offer of 14 September. It intends to take over the control over the mine, holding a total of 66 per cent of its shares. Enea's offer was positively assessed e.g. by analysts and the management board of the mining company.

Subscriptions are collected in selected customer service points of Dom Maklerski Banku Handlowego and subscription points of Bank Handlowy in Warsaw or my mail. They will be collected until 16 October. Enea will take up shares covered with the subscription during the first 14 days of the subscription period under a proportional reduction - when subscriptions are filed for a number greater than 64.57 per cent of shares.

The tender offer is a very good business opportunity for Bogdanka's owners. Both for institutional and individual shareholders. It is worth responding to it since we offered a good price with a bonus in relation to the price from before the tender offer. We do not foresee any changes in the offeremphasises Dalida Gepfert, vice-president of Enea.

A condition for the transaction to succeed is also obtaining an approval from the President of the Office for Competition and Consumer Protection. The proceedings in this case was suspended, in relation to a possibility of introducing amendments to the Statute of Bogdanka which may block the transaction. If the shareholders of the mining company reduce the possibility of exercising the voting right to 10 per cent, the tender offer will not take place. The fact, however, shall not affect the procedure of the tender offer itself, or a possibility of subscribing.

- We are an investor who may guarantee the growth of Bogdanka in very difficult market conditions for the mining sector. As seen by the owners, employees, their families, business contractors, and citizens of the Lubelskie province, we are a safe haven for the mine - adds Paweł Orlof, vice-president of Enea.

Lubelski Węgiel Bogdanka is the most efficient mining enterprise in Poland. Enea's Kozienice Power Plant is the key customer for the mine's products and Bogdanka is the largest supplier of fuel for the concern. Enea is a seller, distributor and producer of electricity and heat energy. It has ca. 2.5 mln customers, generates ca. 13 per cent of the power sold in Poland, is responsible for reliable supplies of energy to the citizens of the north-western part of Poland.

Having in mind the diverse and international nature of Enea SA's shareholding, and also the provisions of the Best Practices of WSE Listed Companies, Enea SA guarantees the availability of its website also in English. In case of any interpretation doubts and discrepancies between the Polish and English versions, the Polish version shall prevail.