Pelion : Update of draft Resolution No. 21 for the Annual General Meeting of PELION S.A. convened for April 21st 2015

Current Report No. 10/2015
Date: April 20th 2015

Update of draft Resolution No. 21 for the Annual General Meeting of PELION S.A. convened for April 21st 2015

In connection with the ongoing buyback of Company shares for cancellation, the Management Board of PELION S.A. of Łódź presents an update on the number of treasury shares held, for the purposes of information included in the notice of the Annual General Meeting of the Company convened for April 21st 2015 (notice of March 26th 2015 published in Current Report No. 8/2015).
As at the date of this report, the number of treasury shares held is 39,861 (thirty-nine thousand, eight hundred and sixty-one) shares.
The Management Board further reports that draft Resolution No. 21 has been updated on the Company's website to reflect the current number of shares held for cancellation, with the proposed wording reading as follows:

Draft resolution No. 21
to cancel the Company's treasury shares,
reduce the Company's share capital and amend the Company's Articles of Association
'The Annual General Meeting of PELION Spółka Akcyjna of Łódź resolves as follows:
Section 1

To cancel39,861 (thirty-nine thousand, eight hundred and sixty-one) own bearer shares with a par value ofPLN 2per share, repurchased by the Company for cancellation pursuant to Resolution No. 23 of the Annual General Meeting of April 26th 2013approving repurchase of the Company's own shares for cancellation, amended by Resolution No. 4 of the Annual General Meeting of April 30th 2014.The Company shares shall be cancelled upon reduction of the share capital.

Section 2

The Annual General Meeting resolves toreduce the Company's share capital byPLN 79,722(seventy-nine thousand, seven hundred and twenty-two złoty), through cancellation of the Company shares referred to in Section 1 above.
The purpose of the share capital reduction is to bring the share capital amount in line with the total par value of the Company shares outstanding following cancellation of the shares specified in Section 1 above.

Section 3

In order to reflect the share cancellation and share capital reduction, the Company's Articles of Association shall be amended as follows:

1. Art. 6shall read as follows:

'Article 6

The Company's share capital amounts to no less than PLN22,291,428(twenty-two million, two hundred and ninety-one thousand, four hundred and twenty-eight złoty) and no more than PLN24,398,628(twenty-four million, three hundred and ninety-eight thousand, six hundred and twenty-eight złoty), and is divided into no less than11,145,714(eleven million, one hundred and forty-five thousand, seven hundred and fourteen) and no more than12,199,314(twelve million, one hundred and ninety-nine thousand, three hundred and fourteen) shares with a par value ofPLN 2(two złoty) per share.'

1. Art. 7.1shall read as follows:

'Article 7

'1. The Company's share capital shall comprise a total of1,773,300(one million, seven hundred and seventy-three thousand, three hundred) registered shares and a total of9,372,414(nine million, three hundred and seventy-two thousand, four hundred and fourteen) bearer shares.'

Legal basis:
Par. 38.1.3 of the Minister of Finance's Regulation on current and periodic information to be published by issuers of securities and conditions for recognition as equivalent of information whose disclosure is required under the laws of a non-member state, dated February 19th 2009 (Dz.U. of 2014, item 133).