As a follow-up to its earlier information dated 29 June 20211, the Board of Directors of CIG Pannonia Life Insurance Public Limited Company (registered office: H-1097 Budapest, Könyves Kálmán körút 11.B, company registration nr.: 01 10 045857 - hereinafter referred to as Company or Target Company), informs its Esteemed Investors and the public that the Magyar Nemzeti Bank (The Central Bank of Hungary) (Supervising Authority) as a result of its proceedings authorized Hungarikum Biztosítási Alkusz Ltd. (registered office: 8086 Felcsút, Fő utca 65.) by its decision nr. H-EN-106/2021, dated 23 August 2021 to acquire a qualified influence exceeding the threshold of 50% (fifty percent) in the Company based on 100% (hundred percent) direct ownership and a qualified influence exceeding the threshold of 50% (fifty percent) in CIG Pannónia First Hungarian General Insurance Plc. (registered office: 1097 Budapest, Könyves Kálmán körút 11. B. ép.) (EMABIT) based on 100% (hundred percent) indirect ownership. As a result of the Approval Procedure, the Supervising Authority also authorized indirect qualified acquisitions arising from the company structure.
The Board of Directors of the Company - based on the information of Hungarikum Biztosítási Alkusz Ltd. (Acquirer) - also immediately announces that the Supervisory Authority by its decision N-KE-III-271/2021, dated 24 August 2021 lifted the suspension of the procedure that was initiated in connection with the approval of the mandatory public takeover bid (Bid) by the Acquirer and MKB Bank Plc. (registered office: 1056 Budapest, Váci utca 38.) as investment service provider for the purchase of registered ordinary shares issued by the Company (ISIN: HU0000180112), and decided to continue the proceedings.
The Board of Directors reminds the Esteemed Investors that due to the approval to acquire and increase the qualified influence in the Target Company and its 100% subsidiary, EMABIT, and the issuance of the GVH's official certificate in this area, all obstacles to the substantive evaluation of the Bid have been removed.
The limit value of the approval for qualified influence granted by the Supervisory Authority in the Authorization Procedure is consistent with the highest degree of influence that can in principle be obtained in the Bid (the Bid shall be made for all ordinary shares of the Target Company not owned by the Acquirer) thus ensures consistency between insurance and capital market procedural rules.


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