The Company has decided to increase the share capital of EMABIT with an amount of 30 000 000 HUF (that is thirty million Hungarian Forints), through issuing new shares as a private placement for the payment of cash contribution. EMABIT issues a total number of 30 pieces of shares representing voting rights of nominal value of 1 000 000 HUF (that is one million Hungarian Forints) per share and 50 000 000 HUF (that is fifty million Hungarian Forints) issue price per share. 

Due to the increase the share capital of EMABIT shall rise up to 1 060 000 000 HUF (that is one billion and sixty million Hungarian Forints) consisting of 1 060 000 000 HUF (that is one billion and sixty million Hungarian Forints) cash contribution that makes 100 percent of the share capital. The share capital of EMABIT consists of 1060 pieces of registered dematerialized shares representing voting rights of nominal value of 1 000 000 HUF (that is one million Hungarian Forints) per share.  

Further on the Board of Directors of the Company has passed a resolution on the amendment of the dividend policy of EMABIT deciding that 100 percent of the profit after tax available for the distribution of dividend shall be paid to the parent company as dividend if it is feasible regarding the solvency requirements and the liquidity. The solvency adequacy ratio shall not be below 160 % as a result of the distribution of the dividend.  

CIG Pannonia Life Insurance Plc.