CIG Pannonia Eletbiztosito : Extraordinary announcement on the merger by acquisition of Pannónia Insurance Companies

June 30, 2017

CIG Pannónia Life Insurance Plc. (registered seat: H-1033 Budapest, Flórián tér 1.; company registry number: Cg.01-10-045857; hereinafter: 'the Company') hereby notifies its shareholders and other capital market participants that the Company Registry Court of Budapest - Capital Regional Court registered the merger by acquisition of Pannónia Life Insurance cPlc. into the Company and the merger by acquisition of Pannónia General Insurance cPlc. into CIG Pannónia First Hungarian General Insurance Company Ltd.

The date of the transformation is 30 June 2017. With the merger by acquisition Pannónia Life Insurance cPlc. ceases to exist and all of its assets and liabilities are transferred to CIG Pannónia Life Insurance Plc. by way of universal succession. The business form of CIG Pannónia Life Insurance Plc. remains unchanged, it continues its operation as a public limited company, the executive officers and the registered capital of the company remain unchanged. MKB Bank cPlc. as the minority shareholder of Pannónia Life Insurance cPlc. is entitled to receive 92,744 pieces of CIGPANNONIA shares as exchange shares according to the merger agreement. The Company ensures the exchange shares from its own shares. The shares will be transferred on the securities account of the owner within 8 days after the registry by the Capital Regional Court. After the transfer the Company will have 1,104,006 pieces of own shares.

Pannónia General Insurance cPlc. also ceases to exist and all of its assets and liabilities are transferred to CIG Pannónia First Hungarian General Insurance Company Ltd. by way of universal succession. The business form of CIG Pannónia First Hungarian General Insurance Company Ltd. remains unchanged, it continues its operation as a public limited company, the executive officers and the registered capital of the company remain unchanged.

No action is required from customers concerned, the two successor insurance companies will provide them with detailed information about the changes by letter.

CIG Pannónia Life Insurance Plc.

Disclaimer: All information contained within this article is for information purposes only, and shall not be considered an official translation of the official communication referred to herein. This document does not include the integral wording of the official communication referred to herein, the original Hungarian language version of it remains to be the solely legally binding material in the subject matter. For further information, please do not hesitate to contact us.