Midas : Report 34/2015

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Current report No. 34/2015 Drawn up on: 29 December 2015

Abbreviated name of the issuer: MIDAS SA

Subject: Submission by Aero2 Sp. z o.o. of orders for the services provided by Polkomtel, which make the total value of mutual settlements exceed 10 per cent of the equity of Midas S.A.

Legal basis: Article 56 par. 1 pt. 2 of the Public Offering Act - current and periodic information

The Management Board of Midas S.A. (the "Company"), in reference to current report No. 16/2015 on entities from the Midas Capital Group having concluded with Polkomtel Sp. z o.o. ("Polkomtel") agreements exceeding 10 per cent of the Company's equity, reports that on 29 December 2015 it was notified that Polkomtel had accepted subsequent orders submitted by Aero2 Sp. z o.o. ("Aero2") on 29 December 2015 for the services provided by Polkomtel to Aero2.

As a result of accepting the orders, the total value of orders submitted and concluded since 11 June 2015 until and including the publication date, i.e. 29 December 2015, between entities from the Midas Capital Group and Polkomtel reached PLN 143.7 million, and therefore exceeded 10 per cent of the Company's equity. The value of orders placed by Aero2 and accepted by Polkomtel amounts to PLN 110.0 million, and the value of orders placed by Polkomtel and accepted by Aero2 amounts to PLN 33.7 million.

The highest-value order was placed on 29 December 2015 and concerned RAN-type services. Its value, calculated on the basis of a 5-year period of providing the services covered by that order, amounts to PLN 100.8 million (the "Order"). The Order was submitted as part of implementing a cooperation agreement concerning mutual provision of telecommunications infrastructure services, concluded by Aero2 on 30 March 2012 with Polkomtel, which the Company reported in Current Report No. 22/2012 (the "Agreement"). The RAN-type transmission services covered by the a/m Order will be provided under the conditions described in the Agreement in each location for a period of five years counting from the date on which Polkomtel announces its readiness to provide the services in a given location, in accordance with the provisions of the Agreement. The Order does not regulate the issue of compensation and contractual penalties - the general terms and conditions of the Agreement will apply in this respect. The other terms and conditions of the Order do not differ from those commonly applied to transactions of this kind.

The Company assumes the criterion of 10 per cent of its equity as the criterion for considering the total value of orders and agreements to be significant.