19/2012 Issue of the A series subscription warrants, take-up of C series shares by entitled persons

The Management Board of CELTIC PROPERTY DEVELOPMENTS S.A. („the Company”) informs, that on 12 July, 2012 A series subscription warrants were offered to entitled persons, according to the resolution No. 22 of the Annual General Meeting of CELTIC PROPERTY DEVELOPMENTS S.A. held on 24 May 2012. The entitled persons took-up all offered subscription warrants. Afterwards the entitled persons have exercised rights from subscription warrants and took-up 163.214 C series bearer shares of the Company of the nominal value 10 gr (ten groszy) each. The entitled persons were the persons who were performing a function in the Management Board of the Company’s Management Board on 12 July 2012 and owned A series subscription warrants, entitling to take-up in total up to 163.214 C series shares. Following the take-up of C series shares, the subscription warrants have lost their validity. Rights from C series shares shall be created at the moment of their registration on the securities accounts of entitled persons.

The C series shares issue was done on the basis of the resolution No. 23 of the Annual General Meeting of CELTIC PROPERTY DEVELOPMENTS S.A. held on 24 May 2012, on: conditional shares capital increase with exclusion of the pre-emption right with respect to C series shares, amendments to Company’s statute, deprivation of current shareholders of the pre-emption right with respect to C series shares, dematerialization of the C series shares and application to admit and introduce the C series shares to the regulated market, communicated by the Company by the current report No.12/2012. The conditional share capital increase by the amount not higher than 16.321,40 PLN was registered by the District Court for the Capital City of Warsaw, XIII Commercial Division of the National Court Register on 19 June 2012, as communicated by the Company by the current report No. 18/2012.

Following the issue of C series shares, the Company shall present applications to the National Depository of Securities S.A. and to the Warsaw Stock Exchange S.A. for registration of C series shares and their introduction to trading on a regulated market.

Legal basis:
Article 56.1.1 of the Act on Public Offering – Confidential information

Signatures of persons entitled to representation:
1. Elżbieta Donata Wiczkowska, Member of the Management Board, 12 July 2012
2. Aled Rhys Jones, Member of the Management Board, 12 July 2012