First quotation

The Management Board of Warsaw Stock Exchange due to the resolution no 523/2006, dated 2006, decided to introduce to quotation on the main market in ordinary way 2 500 000 bearer shares D series of „MONNARI TRADE” S.A. of nominal value PLN 0,10 each. First quotation took place on 20 December, 2006 under the name „MONNARI - PDA” and designation „MONA”.

According to the resolution no 101/2007, dated 9 February, 2007 the Management Board of Warsaw Stock Exchange decided to fix day 12 of February, 2007 as the last quotation day of 2 500 000 bearer shares D series of „MONNARI TRADE” S.A. At the same time due to the resolution no 102/2007, dated 9 February, 2007, the Management Board of Warsaw Stock Exchange decided to introduce to quotation on the main market on 13 of February, 2007 in ordinary way 5 347 273 bearer shares of „MONNARI TRADE” S.A. of nominal value PLN 0,10 each, included:

• 2 000 000 shares of A series of the first issue,
• 727 273 shares of B series,
• 120 000 shares of C series,
• 2 500 000 shares of D series.

First quotation of shares took place on 13 of February, 2007 under the name „MONNARI” and designation „MON”.

Share split
According to the resolution no 1 of the Extraordinary General Shareholders Meeting, dated 26 July, 2005 took place share split A series of the first and second issues by splitting each share of nominal value PLN 2 000 on 20 000 shares of nominal value PLN 0,10 each. Due to the share split the initial capital of the company after registration on 3 of August, 2005 came to 10 000 000 shares A series of the first and second issue of nominal value PLN 0,10 each.

Dividend
The company have’t paid dividend for last years in connection with dynamic growth of store network and setting capital group what demanded financing by company’s profits.

Right of subscription

Shares A series of first issue are founders’ shares.
Shares A series of second issue were issued due to 442 section of Commercial Company Code.

Shares B series were issued by company by private subscription due to 431 section § 2 pkt 1 item of Commercial Company Code excluding right of subscription which had shareholders of the company.

Shares C series were issued by company by private subscription due to 431 section § 2 pkt 1 item of Commercial Company Code excluding right of subscription for shareholders of the company with reference to the number of shares. Shares D series were issued by the company as a public offer excluding right of subscription for shareholders of the company with reference to the number of shares.

Shares E series were issued by the company due to realization of the Motivation Programe – shareholders didn’t have right of subscription at all. Initial capital of the company was conditionally increased up to PLN 30 000 by issue up to 300 000 bearer shares E series of nominal value PLN 0,10 each. In 2008 were issued and acquired 34 000 subscription warrants A series. Realization of the Motivation Programe hasn’t finished yet.