M I N U T E S from an extraordinary general meeting of ...static1.money.pl/d/akty_prawne/spolki/94/391262_0.pdf · M I N U T E S from an extraordinary general meeting of shareholders

M I N U T E S

from an extraordinary general meeting of shareholders of

EUROHOLD BULGARIA AD

On this 17th day of March, 2015, in Sofia, at 43 Christopher Columbus Blvd., at 11:00 a.m. an Extraordinary Meeting of the Shareholders of Eurohold Bulgaria AD, Uniform Commercial Code 175187337, was held in compliance with all provisions of the applicable legislation.

The meeting was attended by the shareholders whose names appear in the list made in compliance with the provisions of article 225 of the Commerce Act. The list of attending shareholders was certified by the chairman and the secretary of the general meeting and is integral part of these minutes. At the time of opening of the Extraordinary Meeting of the Shareholders 13 (thirteen) proxies were submitted for representation of shareholders at the shareholders’ meeting. The meeting was attended by Mr. Kiril Ivanov Boshov – Chairman of the Management Board, Mr. Assen Minchev Minchev – Executive Director, Mr. Assen Emanouilov Assenov – member of the Management Board and Mrs. Milena Stoyanova Stoyanova – Director for Relations with Shareholders. The meeting was opened by Mr. Kiril Ivanov Boshov, Chairman of the Management Board of Eurohold Bulgaria AD who held an opening speech. A proposal was made to vote on a resolution allowing the persons who are not shareholders to attend the general meeting. On this proposal the Extraordinary Meeting of the Shareholders unanimously adopted the following PROCEDURAL RESOLUTION: The Extraordinary Meeting of the Shareholders gives its consent to hold a public general meeting of shareholders to be attended by any persons, non-shareholders, who wish to do so.

The voting results are as follows:

Shareholder Voted „For” (shares)

Voted „Against”

(shares) Voted „Abstained”

(shares) Starcom Holding AD 46 514 641 -------------------------------- --------------------------------

Euro-finance AD voting under instructions of Starcom Holding AD pursuant to a share repurchase agreement

4 640 000 -------------------------------- --------------------------------

Universal Pension Fund DSK Rodina voting under instructions of Starcom Holding AD pursuant to a share repurchase agreement

1 869 750 -------------------------------- --------------------------------

Universal Pension Fund Future voting under instructions of Starcom Holding AD pursuant to a share

7 394 000 -------------------------------- --------------------------------

Minutes from an extraordinary meeting of shareholders of Eurohold Bulgaria AD held on 17. 03. 2015

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repurchase agreement First Financial Brokerage House AD voting under instructions of Starcom Holding AD pursuant to a share repurchase agreement

444 444 -------------------------------- --------------------------------

First Financial Brokerage House AD

33 457 -------------------------------- --------------------------------

Activa Asset Management

34 885 -------------------------------- --------------------------------

Synthetica AD 6 310 -------------------------------- --------------------------------

Euro-finance AD voting under instructions of Galia Georgieva pursuant to a share repurchase agreement

71 412 -------------------------------- --------------------------------

Euro-finance AD voting under instructions of Radi Georgiev pursuant to a share repurchase agreement

13 800 -------------------------------- --------------------------------

Euroins Insurance Group AD

6 430 -------------------------------- --------------------------------

Euroins Romania Asigurare Reasigurare S.A.

8 995 -------------------------------- --------------------------------

Universal Pension Fund Future

542 831 -------------------------------- --------------------------------

Professional Pension Fund Future

175 000 -------------------------------- --------------------------------

Supplementary Pension Fund Future

116 000 -------------------------------- --------------------------------

Radi Georgiev Georgiev

5 300 -------------------------------- --------------------------------

KJK Fund II Sicav-SIF Balkan Discovery

15 281 400 -------------------------------- --------------------------------

Dar Finance EOOD 24 244 755 -------------------------------- --------------------------------

Iva Christova Garvanska

74 000

-------------------------------- --------------------------------

Overall percentage of the represented capital

100 % -------------------------------- --------------------------------

Overall number of shares

101 477 810 -------------------------------- --------------------------------

The General Meeting of Shareholders asserted no objections brought against the above

voting and the results thereof.

After the adoption of the above resolution, a proposal was made to appoint a Quorum and Represented Capital Commission, comprising of the following members: Mrs. Nadejda


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Plamenova Shemshirova, PIN 8004282838, and Mrs. Iva Vencislavova Naumova, PIN 8104096858. On this proposal the Extraordinary Meeting of the Shareholders unanimously adopted the following PROCEDURAL RESOLUTION: The Extraordinary Meeting of the Shareholders Appoints Quorum and Represented Capital Commission comprising of the following members: Mrs. Nadejda Plamenova Shemshirova, PIN XXXXXXXXXX, and Mrs. Iva Vencislavova Naumova, PIN XXXXXXXXXX.



Voted „Against”




4 640 000 -------------------------------- --------------------------------


1 869 750 -------------------------------- --------------------------------

Universal Pension Fund Future voting under instructions of Starcom Holding AD pursuant to a share repurchase agreement

7 394 000 -------------------------------- --------------------------------

First Financial Brokerage House AD voting under instructions of Starcom Holding AD pursuant to a share repurchase agreement

444 444 -------------------------------- --------------------------------


33 457 -------------------------------- --------------------------------


34 885 -------------------------------- --------------------------------

Synthetica AD 6 310 -------------------------------- --------------------------------


71 412 -------------------------------- --------------------------------


13 800 -------------------------------- --------------------------------


6 430 -------------------------------- --------------------------------


4�


8 995 -------------------------------- --------------------------------


542 831 -------------------------------- --------------------------------


175 000 -------------------------------- --------------------------------


116 000 -------------------------------- --------------------------------


5 300 -------------------------------- --------------------------------


15 281 400 -------------------------------- --------------------------------

Dar Finance EOOD 24 244 755 -------------------------------- --------------------------------


74 000

-------------------------------- --------------------------------


100 % -------------------------------- --------------------------------


101 477 810 -------------------------------- --------------------------------



On behalf of the Quorum and Represented Capital Commission Mrs. Nadejda Plamenova Shemshirova presented information about the shares registered for the shareholders’ meeting. After being heard, the shareholders adopted the following PROCEDURAL RESOLUTION:

The Extraordinary Meeting of the Shareholders of Eurohold Bulgaria AD founds that 13 (thirteen) proxies for representation of shareholders at the general meeting are submitted to the company at the time of opening of the shareholders’ meeting. It further founds that at the announced time for opening the meeting, namely at 11.00 a.m. on 17.03.2015, the required quorum for holding a valid meeting in compliance with the company’s articles of association is present, and shareholders representing 101 477 810 (one hundred and one million four hundred seventy-seven thousand eight hundred and ten) ordinary, registered, dematerialized shares, being approximately 79.69% (seventy nine point sixty-nine percent) of the share capital of Eurohold Bulgaria AD are registered. Considering the foregoing, there are no statutory obstacles to held the Extraordinary Meeting of the Shareholders of Eurohold Bulgaria AD on 17.03.2015 at 11.00 a.m.

Voting results are as follows:


Voted „Against”



Euro-finance AD 4 640 000 -------------------------------- --------------------------------


5�

voting under instructions of Starcom Holding AD pursuant to a share repurchase agreement


1 869 750 -------------------------------- --------------------------------


7 394 000 -------------------------------- --------------------------------


444 444 -------------------------------- --------------------------------


33 457 -------------------------------- --------------------------------


34 885 -------------------------------- --------------------------------

Synthetica AD 6 310 -------------------------------- --------------------------------


71 412 -------------------------------- --------------------------------


13 800 -------------------------------- --------------------------------


6 430 -------------------------------- --------------------------------


8 995 -------------------------------- --------------------------------


542 831 -------------------------------- --------------------------------


175 000 -------------------------------- --------------------------------


116 000 -------------------------------- --------------------------------


5 300 -------------------------------- --------------------------------


15 281 400 -------------------------------- --------------------------------

Dar Finance EOOD 24 244 755 -------------------------------- --------------------------------


6�


74 000

-------------------------------- --------------------------------


100 % -------------------------------- --------------------------------


101 477 810 -------------------------------- --------------------------------


voting and the results thereof. After these findings in relation to the meeting’s legitimacy, a proposal was to the shareholders to elect a chairman of the General Meeting of Shareholders, a secretary of the meeting, and vote tellers. Mr. Velislav Milkov Christov, PIN XXXXXXXXXX, proxy of the shareholders Starcom Holding AD, First Financial Brokerage Hose, Universal Pension Fund Rodina, was proposed for a chairman. Ms. Radoslava Nikolova Peneva, PIN XXXXXXXXXX, proxy of the shareholders Euro-Finance AD and Iva Christova Garvanska was proposed for secretary of the General Meeting of Shareholders. Mrs. Nadejda Plamenova Shemshirova, PIN XXXXXXXXXX, proxy of the shareholders Euroins Romania Asigurare Reasigurare S.A., and Mrs. Iva Vencislavova Naumova, PIN XXXXXXXXXX, proxy of the shareholders Synthetica and Universal Pension Fund Future were proposed for vote counters.

The General Meeting of Shareholders of Eurohold Bulgaria AD founds that no other

nominations for chairman of the General Meeting of Shareholders, secretary of the General Meeting of Shareholders and vote counters are made, and therefore adopts the following PROCEDURAL RESOLUTION: 1. Elects Mr. Velislav Milkov Christov, PIN XXXXXXXXXX, as a chairman of the Extraordinary Meeting of the Shareholders; 2. Elects Ms. Radoslava Nikolova Peneva, PIN XXXXXXXXXX, as a secretary of the Extraordinary Meeting of the Shareholders; 3. Elects Iva Ventsislavova Naumova, PIN XXXXXXXXXX, and Nadezhda Plamenova Shemshirova, PIN XXXXXXXXXX, as vote counters of the Extraordinary Meeting of the Shareholders.



Voted „Against”




4 640 000 -------------------------------- --------------------------------


1 869 750 -------------------------------- --------------------------------


7�


7 394 000 -------------------------------- --------------------------------


444 444 -------------------------------- --------------------------------


33 457 -------------------------------- --------------------------------


34 885 -------------------------------- --------------------------------

Synthetica AD 6 310 -------------------------------- --------------------------------


71 412 -------------------------------- --------------------------------


13 800 -------------------------------- --------------------------------


6 430 -------------------------------- --------------------------------


8 995 -------------------------------- --------------------------------


542 831 -------------------------------- --------------------------------


175 000 -------------------------------- --------------------------------


116 000 -------------------------------- --------------------------------


5 300 -------------------------------- --------------------------------


15 281 400 -------------------------------- --------------------------------

Dar Finance EOOD 24 244 755 -------------------------------- --------------------------------


74 000

-------------------------------- --------------------------------


100 % -------------------------------- --------------------------------


101 477 810 -------------------------------- --------------------------------


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The General Meeting of Shareholders asserted no objections brought against the above voting and the results thereof.

After the adoption of the above resolution, the chairman of the shareholders’ meeting

informed the attendees that according to the provision of art. 231, paragraph 3 of the Commerce Act the extraordinary meeting of the shareholders is not entitled to take decisions related to matters that are not announced in accordance to art. 223 and 223a of the Commerce Act, unless all the shareholders are present or are represented at the session of the shareholders meeting and no one objects against the submission of such matters to debate. Considering the fact that all the shareholders are not present of today’s session, the latter shall be held under the agenda as provided for in the notice to the shareholders announced in the trade register and supplemented under the procedure pursuant to art. 223a of the Commerce Act, and namely:

Item one: Change of the composition of the Supervisory Board

Under item 1 of the agenda, the chairman of the meeting read the proposal under this

item of the agenda. The chairman invited the attendees to raise their inquiries. A discussion was held. The chairman the General Meeting put the draft resolution to voting, and thus the General Meeting of Shareholders unanimously adopted the following

RESOLUTION №1 The General Meeting of the shareholders elects Razvan Lefter, Romanian citizen, born

on 18 August 1980, personal number XXXXXXXXXX, and Radi Georgiev Georgiev, personal number (EGN) XXXXXXXXXX as members of the Supervisory Board of EUROHOLD BULGARIA AD.



Voted „Against”




4 640 000 -------------------------------- --------------------------------


1 869 750 -------------------------------- --------------------------------


7 394 000 -------------------------------- --------------------------------

First Financial Brokerage House AD voting under instructions of Starcom Holding AD

444 444 -------------------------------- --------------------------------


9�

pursuant to a share repurchase agreement First Financial Brokerage House AD

33 457 -------------------------------- --------------------------------


34 885 -------------------------------- --------------------------------

Synthetica AD 6 310 -------------------------------- --------------------------------


71 412 -------------------------------- --------------------------------


13 800 -------------------------------- --------------------------------


6 430 -------------------------------- --------------------------------


8 995 -------------------------------- --------------------------------


542 831 -------------------------------- --------------------------------


175 000 -------------------------------- --------------------------------


116 000 -------------------------------- --------------------------------


5 300 -------------------------------- --------------------------------


15 281 400 -------------------------------- --------------------------------

Dar Finance EOOD 24 244 755 -------------------------------- --------------------------------


74 000

-------------------------------- --------------------------------


100 % -------------------------------- --------------------------------


101 477 810 -------------------------------- --------------------------------



Item two: Adopt a decision authorizing the Managing Board and the persons who manage and represent EUROHOLD BULGARIA AD to conclude a transaction the total value of which exceeds the threshold set in Article 114(1)(2) in conjunction with Article 114(1)(1)(b) of the Public Offering of Securities Act (POSA), in accordance with a reasoned report drawn up by the Managing Board of the public company. The subject matter of the transaction is issuance by EUROHOLD BULGARIA AD of a subordinated corporate guarantee to the benefit of all


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bondholders and holders of securities accounts in the subordinated bond issue ISIN code XS1155080085 issued by the subsidiary of EUROHOLD BULGARIA AD, EUROINS INSURANCE GROUP AD, Unique Identification Code (EIK) 175394058. The subordinated corporate guarantee collateralizes all receivables of the bondholders and holders of securities accounts in the said bond issue, wherein the gross nominal amount of the bond issue is EUR 10,000,000 (ten million euro), divided in 100 (one hundred) freely transferrable, interest-bearing, unsecured, subordinated bonds issued to bearer (“bonds”), each one of nominal value EUR 100,000 (one hundred thousand Euro), with serial number and coupons for the corresponding payments; the floating date of the bond issue is 18 December 2014; the interest rate is the applicable Eurozone rate for interbank three-month deposits in Euro between first-class banks (three-month EURIBOR) plus a premium of 13 (thirteen) per cent per annum, or in case that EUROHOLD BULGARIA AD issues a subordinated corporate guarantee to the benefit of all bondholders and holders of securities accounts in the said subordinated bond issue, the interest rate will be the applicable Eurozone rate for interbank three-month deposits in Euro between first-class banks (three-month EURIBOR) plus a premium of 9.75 (nine point seventy-five hundredths) per cent per annum, accruing from the beginning of the three-month interest period in the beginning of which EUROHOLD BULGARIA AD exercises the option to issue the subordinated corporate guarantee; the amounts of interest accrued from the issuing date of the bond issue are payable on 18 March, 18 June, 18 September and 18 December each year; the due date of the first interest payment is 18 March 2015 and the last date for the payment of interest and of the principal on all bonds in the issue is 18 December 2021, except in the event of early redemption by the issuer upon the occurrence of particular conditions, in the event of particular changes of the tax treatment of the bonds and of the payments arising therefrom, in the event of legal changes or their official interpretation, or in the case of a particular regulatory change concerning the classification of the bonds; said bond issue being listed at the Irish Stock Exchange pursuant to a public offering of securities prospectus approved by the Central Bank of Ireland; the parties to the subordinated corporate guarantee being EUROHOLD BULGARIA AD (guarantor), EUROINS INSURANCE GROUP AD (bond issuer), all bondholders and holders of securities accounts in subordinated bond issue ISIN code XS1155080085 issued by EUROINS INSURANCE GROUP AD (bondholders-creditors).


item of the agenda and informed the attendees on the documents which need to be signed in regards to the proposed transaction. A clarification was made that the shareholder Starcom Holding AD and the shareholders acting upon directions of Starcom Holding AD are not entitled to exercise their voting rights under this item of the agenda based on Art. 114a, paragraph 4 of Public Offering of Securities Act, being party with financial interest within the meaning of Art. 114, paragraph 6, item 2 of Public Offering of Securities Act. The chairman invited the attendees to raise their inquiries. A discussion was held. The chairman of the General Meeting put the draft resolution to voting, and thus the General Meeting of Shareholders unanimously adopted the following

RESOLUTION №2:

The General Meeting of the shareholders hereby adopts a decision authorising the

Managing Board and the persons who manage and represent Eurohold Bulgaria AD to conclude a transaction the total value of which exceeds the threshold set in Article 114(1)(2) in conjunction with Article 114(1)(1)(b) POSA, in accordance with a reasoned report drawn up by the Managing Board of the public company. The subject matter of the transaction is issuance by


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Eurohold Bulgaria AD of a subordinated corporate guarantee to the benefit of all bondholders and holders of securities accounts in the subordinated bond issue ISIN code XS1155080085 issued by the subsidiary of Eurohold Bulgaria AD, EUROINS INSURANCE GROUP AD, EIK 175394058. The subordinated corporate guarantee collateralizes all receivables of the bondholders and holders of securities accounts in the said bond issue, wherein the gross nominal amount of the bond issue is EUR 10,000,000 (ten million euro), divided in 100 (one hundred) freely transferrable, interest-bearing, unsecured, subordinated bonds issued to bearer (“bonds”), each one of nominal value EUR 100,000 (one hundred thousand Euro), with serial number and coupons for the corresponding payments. The issue date of the bond issue is 18 December 2014. The interest rate payable on the bonds is the applicable Eurozone rate for interbank three-month deposits in Euro between first-class banks (three-month EURIBOR) plus a premium of 13 (thirteen) per cent per annum, or in case that Eurohold Bulgaria AD issues a subordinated corporate guarantee to the benefit of all bondholders and holders of securities accounts in the said subordinated bond issue, the interest rate will be the applicable Eurozone rate for interbank three-month deposits in Euro between first-class banks (three-month EURIBOR) plus a premium of 9.75 (nine point seventy-five hundredths) per cent per annum, accruing from the beginning of the three-month interest period in the beginning of which Eurohold Bulgaria AD exercises the option to issue the subordinated corporate guarantee. The amounts of interest on the bonds accrue from the issue date of the bond issue and are payable on 18 March, 18 June, 18 September and 18 December each year. The due date of the first interest payment is 18 March 2015 and the last date for the payment of interest and of the principal on all bonds in the issue is 18 December 2021, except in the event of early redemption by the issuer upon the occurrence of particular conditions, in the event of particular changes of the tax treatment of the bonds and of the payments arising therefrom, in the event of legal changes or their official interpretation, or in the case of a particular regulatory change concerning the classification of the bonds. The said bond issue is listed at the Irish Stock Exchange pursuant to a public offering of securities prospectus approved by the Central Bank of Ireland. The parties to the subordinated corporate guarantee are EUROHOLD BULGARIA AD (guarantor), EUROINS INSURANCE GROUP AD (bond issuer), all bondholders and holders of securities accounts in subordinated bond issue ISIN code XS1155080085 issued by EUROINS INSURANCE GROUP AD (bondholders-creditors). The subordinated corporate guarantee shall be signed in the form of a Deed of Subordinated Guarantee together with the related documents, such as Guarantor Representation Deed and Guarantor Accession Deed.



Voted „Against”


(shares) Starcom Holding AD -------------------------- -------------------------------- --------------------------------


-------------------------- -------------------------------- --------------------------------


--------------------------- -------------------------------- --------------------------------


------------------------- -------------------------------- --------------------------------


12�

voting under instructions of Starcom Holding AD pursuant to a share repurchase agreement First Financial Brokerage House AD voting under instructions of Starcom Holding AD pursuant to a share repurchase agreement

------------------------- -------------------------------- --------------------------------


33 457 -------------------------------- --------------------------------


34 885 -------------------------------- --------------------------------

Synthetica AD 6 310 -------------------------------- --------------------------------


71 412 -------------------------------- --------------------------------


13 800 -------------------------------- --------------------------------


6 430 -------------------------------- --------------------------------


8 995 -------------------------------- --------------------------------


542 831 -------------------------------- --------------------------------


175 000 -------------------------------- --------------------------------


116 000 -------------------------------- --------------------------------


5 300 -------------------------------- --------------------------------


15 281 400 -------------------------------- --------------------------------

Dar Finance EOOD 24 244 755 -------------------------------- --------------------------------


74 000

-------------------------------- --------------------------------

Overall percentage of the shares entitled to vote

100 % -------------------------------- --------------------------------


101 477 810 -------------------------------- --------------------------------




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Item three: Adopt a decision authorizing the Managing Board and the persons who manage and represent EUROHOLD BULGARIA AD to conclude a transaction the total value of which exceeds the threshold set in Article 114(1)(2) in conjunction with Article 114(1)(1)(b) POSA, in accordance with a reasoned report drawn up by the Managing Board of the public company. The subject matter of the transaction is the conclusion by EUROHOLD BULGARIA AD of a warranty agreement to the benefit of UNIVERZALNA INVESTICIONA BANKA AD, Skopje by way of collateral for all receivables of UNIVERZALNA INVESTICIONA BANKA AD, Skopje from a subsidiary company of EUROHOLD BULGARIA AD, namely EUROLEASE AUTO DOOEL, Skopje arising from a new annex to the following agreement between EUROLEASE AUTO DOOEL, Skopje and UNIVERZALNA INVESTICIONA BANKA AD, Skopje: Annex No 6 of 6 November 2014 to the existing framework agreement No 09-84421 of 24 December 2008 concerning the provision of banking services by UNIVERZALNA INVESTICIONA BANKA AD, Skopje; whereby the credit limit currently set by the agreement shall be increased by EUR 1,000,000 – i.e. from EUR 2,500,000 to EUR 3,500,000 – and the fee rate shall be 0.1% per annum chargeable on the maximum credit limit, the final date for repayment of all liabilities under loan shall be 31 December 2023 and all other terms of the loan agreement shall remain unchanged as follows: fixed interest 7.85% p.a.; collaterals in the form of pledge on EUR 90,000 of cash belonging to the borrower EUROLEASE AUTO DOOEL, Skopje as per pledge agreement No 09-44950/2 of 6 November 2014; pledge on EUR 250,000 of cash belonging to Euroins Osiguruvanje AD, Skopje as per pledge agreement No 09-44950/3 of 6 November 2014; pledge on vehicles and receivables due under individual lease agreements concluded by the borrower EUROLEASE AUTO DOOEL, Skopje and final clients; Notarised Declaration laying down the rights and obligations arising from a bill of exchange issued and accepted by the borrower EUROLEASE AUTO DOOEL, Skopje and availed by EUROINS OSIGURUVANJE AD, Skopje; warranty by EUROHOLD BULGARIA AD (subject to approval by the General Meeting of the shareholders in the public company); the parties to the warranty agreement being EUROLEASE AUTO DOOEL (borrower), EUROHOLD BULGARIA AD (warrantor) and UNIVERZALNA INVESTICIONA BANKA AD, Skopje (lending bank).

Under item 3 of the agenda, the chairman of the meeting read the proposal of the Management and Supervisory Board for a decision under this agenda item. A clarification was made that the shareholder Starcom Holding AD is not entitled to exercise its voting rights under this item of the agenda based on Art. 114a, paragraph 4 of Public Offering of Securities Act, being party with financial interest within the meaning of Art. 114, paragraph 6, item 2 of Public Offering of Securities Act. A discussion was held. With respect to the draft decision the chairman proposed to the shareholders to vote against the decision under item 3 as in item 7 of the agenda a version of that decision is proposed by the shareholder "STARCOM HOLDING" AD, where technical errors and omissions were avoided, then put the draft decision to voting and thus the General Meeting of Shareholders unanimously adopted the following

RESOLUTION №3:

To reject the draft decision of the Supervisory Board: “The General Meeting of the

shareholders hereby adopts a decision authorizing the Managing Board and the persons who

manage and represent Eurohold Bulgaria AD to conclude a transaction the total value of which

exceeds the threshold set in Article 114(1)(2) in conjunction with Article 114(1)(1)(b) POSA, in

accordance with a reasoned report drawn up by the Managing Board of the public company. The

subject matter of the transaction is the conclusion by EUROHOLD BULGARIA AD of a warranty

agreement to the benefit of UNIVERZALNA INVESTICIONA BANKA AD, Skopje by way of

collateral for all receivables of UNIVERZALNA INVESTICIONA BANKA AD, Skopje from a

subsidiary company of EUROHOLD BULGARIA AD, namely EUROLEASE AUTO DOOEL,


14�

Skopje arising from a new annex to the following agreement between EUROLEASE AUTO

DOOEL, Skopje and UNIVERZALNA INVESTICIONA BANKA AD, Skopje: Annex No 6 of

6 November 2014 to the existing framework agreement No 09-84421 of 24 December 2008

concerning the provision of banking services by UNIVERZALNA INVESTICIONA BANKA

AD, Skopje; whereby the credit limit currently set by the agreement shall be increased by EUR

1,000,000 – i.e. from EUR 2,500,000 to EUR 3,500,000 – and the fee rate shall be 0.1% per

annum chargeable on the maximum credit limit, the final date for repayment of all liabilities

under loan shall be 31 December 2023 and all other terms of the loan agreement shall remain

unchanged as follows: fixed interest 7.85% p.a.; collaterals in the form of pledge on EUR 90,000

of cash belonging to the borrower EUROLEASE AUTO DOOEL, Skopje as per pledge agreement

No 09-44950/2 of 6 November 2014; pledge on EUR 250,000 of cash belonging to Euroins

Osiguruvanje AD, Skopje as per pledge agreement No 09-44950/3 of 6 November 2014; pledge

on vehicles and receivables due under individual lease agreements concluded by the borrower

EUROLEASE AUTO DOOEL, Skopje and final clients; Notarised Declaration laying down the

rights and obligations arising from a bill of exchange issued and accepted by the borrower

EUROLEASE AUTO DOOEL, Skopje and availed by EUROINS OSIGURUVANJE AD, Skopje;

warranty by EUROHOLD BULGARIA AD (subject to approval by the General Meeting of the

shareholders in the public company). The parties to the warranty agreement are EUROLEASE

AUTO DOOEL (borrower), EUROHOLD BULGARIA AD (warrantor) and Univerzalna

Investiciona Banka AD, Skopje (lending bank).”



Voted „Against”




-------------------------- -------------------------------- --------------------------------


--------------------------- -------------------------------- --------------------------------


------------------------- -------------------------------- --------------------------------


------------------------- -------------------------------- --------------------------------


--------------------------- 33 457 --------------------------------


--------------------------- 34 885 --------------------------------

Synthetica AD --------------------------- 6 310 --------------------------------


15�


--------------------------- 71 412 --------------------------------


--------------------------- 13 800 --------------------------------


--------------------------- 6 430 --------------------------------


--------------------------- 8 995 --------------------------------


--------------------------- 542 831 --------------------------------


--------------------------- 175 000 --------------------------------


--------------------------- 116 000 --------------------------------


--------------------------- 5 300 --------------------------------


-------------------------- 15 281 400 --------------------------------

Dar Finance EOOD --------------------------- 24 244 755 --------------------------------


---------------------------

74 000 --------------------------------


--------------------------- 100 % --------------------------------


101 477 810 -------------------------------- --------------------------------



Item four: Adopt a decision authorising the Managing Board and the persons who

manage and represent EUROHOLD BULGARIA AD to conclude a transaction the total value of which exceeds the threshold set in Article 114(1)(2) in conjunction with Article 114(1)(1)(b) POSA, in accordance with a reasoned report drawn up by the Managing Board of the public company. The subject matter of the transaction is the conclusion by EUROHOLD BULGARIA AD of a warranty agreement to the benefit of UNICREDIT BULBANK AD by way of collateral for all receivables of UNICREDIT BULBANK AD from subsidiaries of EUROHOLD BULGARIA AD, namely BULVARIA HOLDING EAD, AUTO ITALIA EAD, STAR MOTORS EOOD, BULVARIA VARNA EOOD, NISSAN SOFIA EAD, AUTO UNION AD, arising from the new Annex No 11/16 October 2014 to the Credit Commitment Agreement for Revolving Loan Facility No 243/21 December 2009 concluded between the initial borrowers BULVARIA HOLDING EAD, BULVARIA RENT-A-CAR EOOD, MILANO MOTORS EOOD, GRANSPORT AUTO EOOD, AUTO ITALIA EAD, STAR MOTORS EOOD, MOTOBUL


16�

EOOD, AUTO UNION AD and UNICREDIT BULBANK AD, by virtue of which the time-limit for issuance of guarantees, counter-guarantees and letters of credit within the available credit limit shall be extended to 30 September 2015; the maximum validity of UNICREDIT BULBANK AD’s payment commitment under guarantees, counter-guarantees and letters of credit issued and valid as at 31 October 2014 shall be extended to 31 December 2015; the maximum validity of UNICREDIT BULBANK AD’s payment commitment under guarantees and counter-guarantees issued after 31 October 2014 shall be extended to 15 October 2016; the portion of the credit facility used for working capital shall be repaid without revolving option in three equal monthly installments payable respectively on 31 October 2015, 30 November 2015 and 31 December 2015; the final date for repayment of the limit referred to in point 2 of the loan agreement, which has been used for revolving capital, shall be extended to 31 December 2015; every amount utilised through payment of guarantees/letters of credit by UNICREDIT BULBANK AD shall become immediately due and payable; the borrowers shall pay to UNICREDIT BULBANK AD a loan management fee in the amount of EUR 40 000; and all other terms of the loan agreement shall remain unchanged, namely overall credit limit BGN 8,000,000 of which BGN 5,000,000 is the limit for issuance of bank guarantees and BGN 3,000,000 is the limit for working capital requirements; interest rate one-month EURIBOR plus 6 per cent per annum; the parties to the warranty agreement being BULVARIA HOLDING EAD, AUTO ITALIA EAD, STAR MOTORS EOOD, BULVARIA VARNA EOOD, NISSAN SOFIA EAD, AUTO UNION AD (borrowers and joint debtors in common), DARU CAR AD (pledgor), EUROHOLD BULGARIA AD (warrantor) and UNICREDIT BULBANK AD (lending bank).

Under item 4 of the agenda the chairman of the meeting read the proposal of the Management and Supervisory Board for a decision under this agenda item. A clarification was made that the shareholder Starcom Holding AD is not entitled to exercise its voting rights under this item of the agenda based on Art. 114a, paragraph 4 of Public Offering of Securities Act, being party with financial interest within the meaning of Art. 114, paragraph 6, item 2 of Public Offering of Securities Act. A discussion was held. With respect to the draft decision the chairman proposed to the shareholders to vote against the decision under item 4 as in item 8 of the agenda a version of that decision is proposed by the shareholder "STARCOM HOLDING" AD, where technical errors and omissions were avoided, then put the draft decision to voting and thus the General Meeting of Shareholders unanimously adopted the following

RESOLUTION №4:

To reject the draft decision of the Supervisory Board: “The General Meeting of the shareholders hereby adopts a decision authorizing the Managing Board and the persons who manage and represent EUROHOLD BULGARIA AD to conclude a transaction the total value of which exceeds the threshold set in Article 114(1)(2) in conjunction with Article 114(1)(1)(b) POSA, in accordance with a reasoned report drawn up by the Managing Board of the public company. The subject matter of the transaction is the conclusion by EUROHOLD BULGARIA AD of a warranty agreement to the benefit of UNICREDIT BULBANK AD by way of collateral for all receivables of UNICREDIT BULBANK AD from subsidiaries of EUROHOLD BULGARIA AD, namely BULVARIA HOLDING EAD, AUTO ITALIA EAD, STAR MOTORS EOOD, BULVARIA VARNA EOOD, NISSAN SOFIA EAD, AUTO UNION AD, arising from the new Annex No 11/16 October 2014 to the Credit Commitment Agreement for Revolving Loan Facility No 243/21 December 2009 concluded between the initial borrowers BULVARIA HOLDING EAD, BULVARIA RENT-A-CAR EOOD, MILANO MOTORS EOOD, GRANSPORT AUTO EOOD, AUTO ITALIA EAD, STAR MOTORS EOOD, MOTOBUL EOOD, AUTO UNION AD and UNICREDIT BULBANK AD. By virtue of said Annex, the time-limit for issuance of guarantees, counter-guarantees and letters of credit within the available credit limit shall be extended to 30 September 2015. The maximum validity of UNICREDIT BULBANK AD’s


17�

payment commitment under guarantees, counter-guarantees and letters of credit issued and valid as at 31 October 2014 shall be extended to 31 December 2015. The maximum validity of UNICREDIT BULBANK AD’s payment commitment under guarantees and counter-guarantees issued after 31 October 2014 shall be extended to 15 October 2016. The portion of the credit facility used for working capital shall be repaid without revolving option in three equal monthly installments payable respectively on 31 October 2015, 30 November 2015 and 31 December 2015. The final date for repayment of the limit referred to in point 2 of the loan agreement, which has been used for revolving capital, shall be extended to 31 December 2015. Every amount utilised through payment of guarantees/letters of credit by UNICREDIT BULBANK AD shall become immediately due and payable. The borrowers shall pay to UNICREDIT BULBANK AD a loan management fee in the amount of EUR 40 000. All other terms of the loan agreement shall remain unchanged, namely overall credit limit BGN 8,000,000 of which BGN 5,000,000 is the limit for issuance of bank guarantees and BGN 3,000,000 is the limit for working capital requirements and interest rate one-month EURIBOR plus 6 per cent per annum. The parties to the warranty agreement are BULVARIA HOLDING EAD, AUTO ITALIA EAD, STAR MOTORS EOOD, BULVARIA VARNA EOOD, NISSAN SOFIA EAD, AUTO UNION AD (borrowers and joint debtors in common), DARU CAR AD (pledgor), EUROHOLD BULGARIA AD (warrantor) and UNICREDIT BULBANK AD (lending bank).”



Voted „Against”




-------------------------- -------------------------------- --------------------------------


--------------------------- -------------------------------- --------------------------------


------------------------- -------------------------------- --------------------------------


------------------------- -------------------------------- --------------------------------


--------------------------- 33 457 --------------------------------


--------------------------- 34 885 --------------------------------

Synthetica AD --------------------------- 6 310 --------------------------------

Euro-finance AD --------------------------- 71 412 --------------------------------


18�

voting under instructions of Galia Georgieva pursuant to a share repurchase agreement Euro-finance AD voting under instructions of Radi Georgiev pursuant to a share repurchase agreement

--------------------------- 13 800 --------------------------------


--------------------------- 6 430 --------------------------------


--------------------------- 8 995 --------------------------------


--------------------------- 542 831 --------------------------------


--------------------------- 175 000 --------------------------------


--------------------------- 116 000 --------------------------------


--------------------------- 5 300 --------------------------------


-------------------------- 15 281 400 --------------------------------

Dar Finance EOOD --------------------------- 24 244 755 --------------------------------


---------------------------

74 000 --------------------------------


--------------------------- 100 % --------------------------------


101 477 810 -------------------------------- --------------------------------


Item five: Adopt a decision authorising the Managing Board and the persons who manage and represent EUROHOLD BULGARIA AD to conclude a transaction the total value of which exceeds the threshold set in Article 114(1)(2) in conjunction with Article 114(1)(1)(b) POSA, in accordance with a reasoned report drawn up by the Managing Board of the public company. The subject matter of the transaction is the conclusion by EUROHOLD BULGARIA AD of a warranty agreement to the benefit of UNICREDIT BULBANK AD by way of collateral for all receivables of UNICREDIT BULBANK AD from a subsidiary of EUROHOLD BULGARIA AD, namely STAR MOTORS EOOD, in accordance with the understandings in Annex No 3/18 December 2014 to a bank loan agreement subject to the undertaking of credit commitments in the form of bank guarantees and documentary credits No 188/17 September 2013, concluded between the borrower STAR MOTORS EOOD and UNICREDIT BULBANK AD, wherein the overall limit as per the agreement is raised to EUR 2 500 000 intended for the undertaking of credit commitments in the form of bank guarantees and documentary credits, the fee rate is 1% per annum and the other


19�

terms remain as laid down in the loan agreement and all annexes thereto; the parties to the warranty agreement being STAR MOTORS EOOD (borrower), EUROHOLD BULGARIA AD (warrantor) and UNICREDIT BULBANK AD (lending bank).

Under item 5 of the agenda the chairman of the meeting read the proposal of the

Management and Supervisory Board for a decision under this agenda item. A clarification was made that the shareholder Starcom Holding AD is not entitled to exercise its voting rights under this item of the agenda based on Art. 114a, paragraph 4 of Public Offering of Securities Act, being party with financial interest within the meaning of Art. 114, paragraph 6, item 2 of Public Offering of Securities Act. A discussion was held. The chairman invited the attendees to raise their inquiries. A discussion was held. The chairman of the General Meeting put the draft resolution to voting, and thus the General Meeting of Shareholders unanimously adopted the following

RESOLUTION № 5: The General Meeting of the shareholders hereby adopts a decision authorizing the

Managing Board and the persons who manage and represent Eurohold Bulgaria AD to conclude a transaction the total value of which exceeds the threshold set in Article 114(1)(2) in conjunction with Article 114(1)(1)(b) POSA, in accordance with a reasoned report drawn up by the Managing Board of the public company. The subject matter of the transaction is the conclusion by EUROHOLD BULGARIA AD of a warranty agreement to the benefit of UNICREDIT BULBANK AD by way of collateral for all receivables of UNICREDIT BULBANK AD from a subsidiary of EUROHOLD BULGARIA AD, namely STAR MOTORS EOOD, in accordance with the understandings in Annex No 3/18 December 2014 to a bank loan agreement subject to the undertaking of credit commitments in the form of bank guarantees and documentary credits No 188/17 September 2013, concluded between the borrower STAR MOTORS EOOD and UNICREDIT BULBANK AD, wherein the overall limit as per the agreement is raised to EUR 2 500 000 intended for the undertaking of credit commitments in the form of bank guarantees and documentary credits, the fee rate is 1% per annum and the other terms remain as laid down in the loan agreement and all annexes thereto. The parties to the warranty agreement are STAR MOTORS EOOD (borrower), EUROHOLD BULGARIA AD (warrantor) and UNICREDIT BULBANK AD (lending bank).



Voted „Against”




-------------------------- -------------------------------- --------------------------------


--------------------------- -------------------------------- --------------------------------

Universal Pension ------------------------- -------------------------------- --------------------------------


20�

Fund Future voting under instructions of Starcom Holding AD pursuant to a share repurchase agreement First Financial Brokerage House AD voting under instructions of Starcom Holding AD pursuant to a share repurchase agreement

------------------------- -------------------------------- --------------------------------


33 457 -------------------------------- --------------------------------


34 885 -------------------------------- --------------------------------

Synthetica AD 6 310 -------------------------------- --------------------------------


71 412 -------------------------------- --------------------------------


13 800 -------------------------------- --------------------------------


6 430 -------------------------------- --------------------------------


8 995 -------------------------------- --------------------------------


542 831 -------------------------------- --------------------------------


175 000 -------------------------------- --------------------------------


116 000 -------------------------------- --------------------------------


5 300 -------------------------------- --------------------------------


15 281 400 -------------------------------- --------------------------------

Dar Finance EOOD 24 244 755 -------------------------------- --------------------------------


74 000

-------------------------------- --------------------------------


100 % -------------------------------- --------------------------------


101 477 810 -------------------------------- --------------------------------


21�


Item six: Adopt a decision authorizing the Managing Board and the persons who manage

and represent EUROHOLD BULGARIA AD to conclude a transaction the total value of which exceeds the threshold set in Article 114(1)(2) in conjunction with Article 114(1)(1)(b) POSA, in accordance with a reasoned report drawn up by the Managing Board of the public company. The subject matter of the transaction is the conclusion by EUROHOLD BULGARIA AD of a warranty agreement to the benefit of FIRST INVESTMENT BANK AD by way of collateral for all receivables of FIRST INVESTMENT BANK AD from a subsidiary of EUROHOLD BULGARIA AD, namely AUTO UNION AD, acting as joint debtor in common, and from the borrower ASTERION BULGARIA AD, arising from loan agreement No 000-CL-L-000048/30.06.2010 designated for issuance of bank guarantees and concluded between FIRST INVESTMENT BANK AD, ASTERION BULGARIA AD and AUTO UNION AD, under the following terms: maximum credit limit EUR 1,800,000, final repayment date 30 April 2020, commission rate 0.625% per quarter payable on all bank guarantees issued, commission rate 0.125% payable on the entire credit limit, and other terms as laid down in the loan agreement and all annexes thereto; the parties to the warranty agreement being ASTERION BULGARIA AD (borrower), AUTO UNION AD (joint debtor in common), EUROHOLD BULGARIA AD (warrantor) and UNICREDIT BULBANK AD (lending bank).


item of the agenda. A clarification was made that the shareholder Starcom Holding AD is not entitled to exercise its voting rights under this item of the agenda based on Art. 114a, paragraph 4 of Public Offering of Securities Act, being party with financial interest within the meaning of Art. 114, paragraph 6, item 2 of Public Offering of Securities Act. With respect to the draft decision the chairman proposed to the shareholders to vote against the decision under item 6 as in item 9 of the agenda a version of that decision is proposed by the shareholder "STARCOM HOLDING" AD, where technical errors and omissions were avoided, then put the draft resolution to voting, and thus the General Meeting of Shareholders unanimously adopted the following

RESOLUTION №6:

To reject the draft decision of the Supervisory Board: “The General Meeting of the shareholders hereby adopts a decision authorising the Managing Board and the persons who manage and represent EUROHOLD BULGARIA AD to conclude a transaction the total value of which exceeds the threshold set in Article 114(1)(2) in conjunction with Article 114(1)(1)(b) POSA, in accordance with a reasoned report drawn up by the Managing Board of the public company. The subject matter of the transaction is the conclusion by EUROHOLD BULGARIA AD of a warranty agreement to the benefit of FIRST INVESTMENT BANK AD by way of collateral for all receivables of FIRST INVESTMENT BANK AD from a subsidiary of EUROHOLD BULGARIA AD, namely AUTO UNION AD, acting as joint debtor in common, and from the borrower ASTERION BULGARIA AD, arising from loan agreement No 000-CL-L-000048/30.06.2010 designated for issuance of bank guarantees and concluded between FIRST INVESTMENT BANK AD, ASTERION BULGARIA AD and AUTO UNION AD, under the following terms: maximum credit limit EUR 1,800,000, final repayment date 30 April 2020, commission rate 0.625% per quarter payable on all bank guarantees issued, commission rate 0.125% payable on the entire credit limit, and other terms as laid down in the loan agreement and all annexes thereto. The parties to the warranty


22�

agreement are ASTERION BULGARIA AD (borrower), AUTO UNION AD (joint debtor in common), EUROHOLD BULGARIA AD (warrantor) and UNICREDIT BULBANK AD (lending bank)”



Voted „Against”




-------------------------- -------------------------------- --------------------------------


--------------------------- -------------------------------- --------------------------------


------------------------- -------------------------------- --------------------------------


------------------------- -------------------------------- --------------------------------


--------------------------- 33 457 --------------------------------


--------------------------- 34 885 --------------------------------

Synthetica AD --------------------------- 6 310 --------------------------------


--------------------------- 71 412 --------------------------------


--------------------------- 13 800 --------------------------------


--------------------------- 6 430 --------------------------------


--------------------------- 8 995 --------------------------------


--------------------------- 542 831 --------------------------------


--------------------------- 175 000 --------------------------------


23�


--------------------------- 116 000 --------------------------------


--------------------------- 5 300 --------------------------------


-------------------------- 15 281 400 --------------------------------

Dar Finance EOOD --------------------------- 24 244 755 --------------------------------


---------------------------

74 000 --------------------------------


--------------------------- 100 % --------------------------------


101 477 810 -------------------------------- --------------------------------


Item seven: Adopt a resolution authorising the Managing Board and the persons who manage and represent EUROHOLD BULGARIA AD to conclude a transaction the total value of which exceeds the threshold set in Article 114(1)(2) in conjunction with Article 114(1)(1)(b) POSA, in accordance with a reasoned report drawn up by the Managing Board of the public company. The subject matter of the transaction is the conclusion by EUROHOLD BULGARIA AD of annex of a warranty agreement signed on the 25th of September 2014 to the benefit of UNIVERZALNA INVESTICIONA BANKA AD, Skopje with identification company number 4646088, and tax number 4030993252736, notarized on the 25th of September 2014 under reg. № 4661 of notary Dimo Zheliazkov, reg. № 101 of the Notary Chamber by way of collateral for all receivables of UNIVERZALNA INVESTICIONA BANKA AD, Skopje from a subsidiary company of EUROHOLD BULGARIA AD, namely EUROLEASE AUTO DOOEL, Skopje, with identification company number 6375260, and tax number 4030008035637, arising from a new annex to the following agreement between EUROLEASE AUTO DOOEL, Skopje and UNIVERZALNA INVESTICIONA BANKA AD, Skopje: Annex № 6 of 6 November 2014 to the existing framework agreement № 09-84421 of 24 December 2008 concerning the provision of banking services by UNIVERZALNA INVESTICIONA BANKA AD, Skopje; whereby the credit limit currently set by the agreement shall be increased by EUR 1,000,000 – i.e. from EUR 2,500,000 to EUR 3,500,000 – and the fee rate shall be 0.1% per annum chargeable on the maximum credit limit, the final date for repayment of all liabilities under loan shall be 31 December 2023 and all other terms of the abovementioned loan agreement and all the annexes related to it shall remain unchanged.

Under item 7 of the agenda, the chairman of the meeting read the proposal of Starcom

Holding AD under this item of the agenda. A clarification was made that the shareholder Starcom Holding AD is not entitled to exercise its voting rights under this item of the agenda based on Art. 114a, paragraph 4 of Public Offering of Securities Act, being party with financial interest within the meaning of Art. 114, paragraph 6, item 2 of Public Offering of Securities Act. The chairman invited the attendees to raise their inquiries. A discussion was held. The chairman of the General Meeting put the draft resolution to voting, and thus the General Meeting of Shareholders unanimously adopted the following


24�

RESOLUTION №7:

The General Meeting of the shareholders hereby adopts a resolution on authorizing the

Managing Board and the persons who manage and represent Eurohold Bulgaria AD to conclude a transaction the total value of which exceeds the threshold set in Article 114(1)(2) in conjunction with Article 114(1)(1)(b) POSA, in accordance with a reasoned report drawn up by the Managing Board of the public company. The subject matter of the transaction is the conclusion by EUROHOLD BULGARIA AD of annex of a warranty agreement signed on the 25th of September 2014 to the benefit of UNIVERZALNA INVESTICIONA BANKA AD, Skopje with identification company number 4646088, and tax number 4030993252736, notarized on the 25th of September 2014 under reg. № 4661 of notary Dimo Zheliazkov, reg. № 101 of the Notary Chamber by way of collateral for all receivables of UNIVERZALNA INVESTICIONA BANKA AD, Skopje from a subsidiary company of EUROHOLD BULGARIA AD, namely EUROLEASE AUTO DOOEL, Skopje with identification company number 6375260, and tax number 4030008035637, arising from a new annex to the following agreement between EUROLEASE AUTO DOOEL, Skopje and UNIVERZALNA INVESTICIONA BANKA AD, Skopje: Annex No 6 of 6 November 2014 to the existing framework agreement No 09-84421 of 24 December 2008 concerning the provision of banking services by UNIVERZALNA INVESTICIONA BANKA AD, Skopje; whereby the credit limit currently set by the agreement shall be increased by EUR 1,000,000 – i.e. from EUR 2,500,000 to EUR 3,500,000 – and the fee rate shall be 0.1% per annum chargeable on the maximum credit limit, the final date for repayment of all liabilities under loan shall be 31 December 2023 and all other terms of the abovementioned loan agreement and all the annexes related to it shall remain unchanged



Voted „Against”




-------------------------- -------------------------------- --------------------------------


--------------------------- -------------------------------- --------------------------------


------------------------- -------------------------------- --------------------------------


------------------------- -------------------------------- --------------------------------


25�


33 457 -------------------------------- --------------------------------


34 885 -------------------------------- --------------------------------

Synthetica AD 6 310 -------------------------------- --------------------------------


71 412 -------------------------------- --------------------------------


13 800 -------------------------------- --------------------------------


6 430 -------------------------------- --------------------------------


8 995 -------------------------------- --------------------------------


542 831 -------------------------------- --------------------------------


175 000 -------------------------------- --------------------------------


116 000 -------------------------------- --------------------------------


5 300 -------------------------------- --------------------------------


15 281 400 -------------------------------- --------------------------------

Dar Finance EOOD 24 244 755 -------------------------------- --------------------------------


74 000

-------------------------------- --------------------------------


100 % -------------------------------- --------------------------------


101 477 810 -------------------------------- --------------------------------


Item eight: Adopt a resolution authorizing the Managing Board and the persons who

manage and represent EUROHOLD BULGARIA AD to conclude a transaction the total value of which exceeds the threshold set in Article 114(1)(2) in conjunction with Article 114(1)(1)(b) POSA, in accordance with a reasoned report drawn up by the Managing Board of the public company. The subject matter of the transaction is the conclusion by EUROHOLD BULGARIA AD of a warranty agreement to the benefit of UNICREDIT BULBANK AD by way of collateral for all receivables of UNICREDIT BULBANK AD from subsidiaries of EUROHOLD BULGARIA AD, namely


26�

BULVARIA HOLDING EAD, AUTO ITALIA EAD, STAR MOTORS EOOD, BULVARIA VARNA EOOD, NISSAN SOFIA EAD, AUTO UNION AD, arising from the new Annex No 11/16 October 2014 to the Credit Commitment Agreement for Revolving Loan Facility No 243/21 December 2009 concluded between the initial borrowers BULVARIA HOLDING EAD, BULVARIA RENT-A-CAR EOOD, MILANO MOTORS EOOD, GRANSPORT AUTO EOOD, AUTO ITALIA EAD, STAR MOTORS EOOD, MOTOBUL EOOD, AUTO UNION AD and UNICREDIT BULBANK AD, by virtue of which the time-limit for issuance of guarantees, counter-guarantees and letters of credit within the available credit limit shall be extended to 30 September 2015; the maximum validity of UNICREDIT BULBANK AD’s payment commitment under guarantees, counter-guarantees and letters of credit issued and valid as at 31 October 2014 shall be extended to 31 December 2015; the maximum validity of UNICREDIT BULBANK AD’s payment commitment under guarantees and counter-guarantees issued after 31 October 2014 shall be extended to 15 October 2016; the portion of the credit facility used for working capital shall be repaid without revolving option in three equal monthly installments payable respectively on 31 October 2015, 30 November 2015 and 31 December 2015; the final date for repayment of the limit referred to in point 2 of the loan agreement, which has been used for revolving capital, shall be extended to 31 December 2015; every amount utilized through payment of guarantees/letters of credit by UNICREDIT BULBANK AD shall become immediately due and payable; the borrowers shall pay to UNICREDIT BULBANK AD a loan management fee in the amount of EUR 40 000; and all other terms of the loan agreement shall remain unchanged, namely overall credit limit EUR 8,000,000 of which EUR 5,500,000 is the limit for issuance of bank guarantees and EUR 2,500,000 is the limit for working capital requirements; interest rate one-month EURIBOR plus 6 per cent per annum; the parties to the warranty agreement being BULVARIA HOLDING EAD, AUTO ITALIA EAD, STAR MOTORS EOOD, BULVARIA VARNA EOOD, NISSAN SOFIA EAD, AUTO UNION AD (borrowers and joint debtors in common), DARU CAR AD (pledgor), EUROHOLD BULGARIA AD (warrantor) and UNICREDIT BULBANK AD (lending bank).



RESOLUTION №8: The General Meeting of the shareholders hereby adopts a decision authorizing the

Managing Board and the persons who manage and represent EUROHOLD BULGARIA AD to conclude a transaction the total value of which exceeds the threshold set in Article 114(1)(2) in conjunction with Article 114(1)(1)(b) POSA, in accordance with a reasoned report drawn up by the Managing Board of the public company. The subject matter of the transaction is the conclusion by EUROHOLD BULGARIA AD of a warranty agreement to the benefit of UNICREDIT BULBANK AD by way of collateral for all receivables of UNICREDIT BULBANK AD from subsidiaries of EUROHOLD BULGARIA AD, namely BULVARIA HOLDING EAD, AUTO ITALIA EAD, STAR MOTORS EOOD, BULVARIA VARNA EOOD, NISSAN SOFIA EAD, AUTO UNION AD, arising from the new Annex № 11/16 October 2014 to the Credit Commitment Agreement for Revolving Loan Facility № 243/21 December 2009 concluded between the initial borrowers BULVARIA HOLDING EAD, BULVARIA RENT-A-CAR EOOD, MILANO MOTORS EOOD, GRANSPORT AUTO EOOD, AUTO ITALIA


27�

EAD, STAR MOTORS EOOD, MOTOBUL EOOD, AUTO UNION AD and UNICREDIT BULBANK AD. By virtue of said Annex, the time-limit for issuance of guarantees, counter-guarantees and letters of credit within the available credit limit shall be extended to 30 September 2015. The maximum validity of UNICREDIT BULBANK AD’s payment commitment under guarantees, counter-guarantees and letters of credit issued and valid as at 31 October 2014 shall be extended to 31 December 2015. The maximum validity of UNICREDIT BULBANK AD’s payment commitment under guarantees and counter-guarantees issued after 31 October 2014 shall be extended to 15 October 2016. The portion of the credit facility used for working capital shall be repaid without revolving option in three equal monthly installments payable respectively on 31 October 2015, 30 November 2015 and 31 December 2015. The final date for repayment of the limit referred to in point 2 of the loan agreement, which has been used for revolving capital, shall be extended to 31 December 2015. Every amount utilized through payment of guarantees/letters of credit by UNICREDIT BULBANK AD shall become immediately due and payable. The borrowers shall pay to UNICREDIT BULBANK AD a loan management fee in the amount of EUR 40 000. All other terms of the loan agreement shall remain unchanged, namely overall credit limit EUR 8,000,000 of which EUR 5,500,000 is the limit for issuance of bank guarantees and EUR 2,500,000 is the limit for working capital requirements and interest rate one-month EURIBOR plus 6 per cent per annum. The parties to the warranty agreement are BULVARIA HOLDING EAD, AUTO ITALIA EAD, STAR MOTORS EOOD, BULVARIA VARNA EOOD, NISSAN SOFIA EAD, AUTO UNION AD (borrowers and joint debtors in common), DARU CAR AD (pledgor), EUROHOLD BULGARIA AD (warrantor) and UNICREDIT BULBANK AD (lending bank).



Voted „Against”




-------------------------- -------------------------------- --------------------------------


--------------------------- -------------------------------- --------------------------------


------------------------- -------------------------------- --------------------------------


------------------------- -------------------------------- --------------------------------


33 457 -------------------------------- --------------------------------

Activa Asset 34 885 -------------------------------- --------------------------------


28�

Management

Synthetica AD 6 310 -------------------------------- --------------------------------


71 412 -------------------------------- --------------------------------


13 800 -------------------------------- --------------------------------


6 430 -------------------------------- --------------------------------


8 995 -------------------------------- --------------------------------


542 831 -------------------------------- --------------------------------


175 000 -------------------------------- --------------------------------


116 000 -------------------------------- --------------------------------


5 300 -------------------------------- --------------------------------


15 281 400 -------------------------------- --------------------------------

Dar Finance EOOD 24 244 755 -------------------------------- --------------------------------


74 000

-------------------------------- --------------------------------


100 % -------------------------------- --------------------------------


101 477 810 -------------------------------- --------------------------------


Item nine: Adopt a decision authorising the Managing Board and the persons who

manage and represent EUROHOLD BULGARIA AD to conclude a transaction the total value of which exceeds the threshold set in Article 114(1)(2) in conjunction with Article 114(1)(1)(b) POSA, in accordance with a reasoned report drawn up by the Managing Board of the public company. The subject matter of the transaction is the conclusion by EUROHOLD BULGARIA AD of a warranty agreement to the benefit of FIRST INVESTMENT BANK AD by way of collateral for all receivables of FIRST INVESTMENT BANK AD from a subsidiary of EUROHOLD BULGARIA AD, namely AUTO UNION AD, acting as joint debtor in common, and from the borrower ASTERION BULGARIA AD, arising from loan agreement No 000-CL-L-000048/30.06.2010 and the subsequent annexes thereto, including Annex No. 6 of 03.02.2015 concluded between FIRST INVESTMENT BANK AD, ASTERION BULGARIA AD and AUTO UNION AD, under the following new terms: new


29�

maximum credit limit EUR 1,800,000, new final repayment date 30 April 2020, annual rate of Base Interest Rate of the Bank for EUR plus a margin of 2.5 percentage points, commission of 0.625% per quarter on the amount of all bank guarantees, commission management fee amounting to 0.125% per quarter of the entire credit limit, and all other terms as laid down in the mentioned loan agreement and all annexes thereto; the parties to the warranty agreement being EUROHOLD BULGARIA AD (warrantor) and FIRST INVESTMENT BANK AD (lending bank).



RESOLUTION №9:

The General Meeting of the shareholders hereby adopts a decision authorising the Managing Board and the persons who manage and represent EUROHOLD BULGARIA AD to conclude a transaction the total value of which exceeds the threshold set in Article 114(1)(2) in conjunction with Article 114(1) (1) (b) POSA, in accordance with a reasoned report drawn up by the Managing Board of the public company. The subject matter of the transaction is the conclusion by EUROHOLD BULGARIA AD of a warranty agreement to the benefit of FIRST INVESTMENT BANK AD by way of collateral for all receivables of FIRST INVESTMENT BANK AD from a subsidiary of EUROHOLD BULGARIA AD, namely AUTO UNION AD, acting as joint debtor in common, and from the borrower ASTERION BULGARIA AD, arising from loan agreement No 000-CL-L-000048/30.06.2010 and the subsequent annexes thereto, including Annex No. 6 of 03.02.2015 concluded between FIRST INVESTMENT BANK AD, ASTERION BULGARIA AD and AUTO UNION AD, under the following new terms: new maximum credit limit EUR 1,800,000, new final repayment date 30 April 2020, annual rate of Base Interest Rate of the Bank for EUR plus a margin of 2.5 percentage points, commission rate of 0.625% per quarter on the amount of all bank guarantees, commission management fee amounting to 0.125% per quarter of the entire credit limit, and other terms as laid down in the mentioned loan agreement and all annexes thereto. The parties to the warranty agreement are EUROHOLD BULGARIA AD (warrantor) and FIRST INVESTMENT BANK AD (lending bank).



Voted „Against”




-------------------------- -------------------------------- --------------------------------

Universal Pension Fund DSK Rodina voting under instructions of Starcom Holding AD pursuant to a share

--------------------------- -------------------------------- --------------------------------


30�

repurchase agreement Universal Pension Fund Future voting under instructions of Starcom Holding AD pursuant to a share repurchase agreement

------------------------- -------------------------------- --------------------------------


------------------------- -------------------------------- --------------------------------


33 457 -------------------------------- --------------------------------


34 885 -------------------------------- --------------------------------

Synthetica AD 6 310 -------------------------------- --------------------------------


71 412 -------------------------------- --------------------------------


13 800 -------------------------------- --------------------------------


6 430 -------------------------------- --------------------------------


8 995 -------------------------------- --------------------------------


542 831 -------------------------------- --------------------------------


175 000 -------------------------------- --------------------------------


116 000 -------------------------------- --------------------------------


5 300 -------------------------------- --------------------------------


15 281 400 -------------------------------- --------------------------------

Dar Finance EOOD 24 244 755 -------------------------------- --------------------------------


74 000

-------------------------------- --------------------------------


100 % -------------------------------- --------------------------------


101 477 810 -------------------------------- --------------------------------


31�


Item ten: Adopt a resolution authorizing the Managing Board and the persons who manage and represent EUROHOLD BULGARIA AD to conclude a transaction the total value of which exceeds the threshold set in Article 114(1)(2) in conjunction with Article 114(1)(1)(b) POSA, in accordance with a reasoned report drawn up by the Managing Board of the public company. The subject matter of the transaction is the conclusion of Annex № 2 to the signed on the 30th of June 2010 Contract for pledge of dematerialized securities, as amended and supplied by Annex № 1 signed on the 8th of October 2012 between EUROHOLD BULGARIA AD and FIRST INVESTMENT BANK AD in order to guarantee all claims of FIRST INVESTMENT BANK AD by a subsidiary of EUROHOLD BULGARIA AD, namely AUTO UNION AD , acting as a co-borrower, and the borrower "ASTERION BULGARIA" AD, arising from loan agreement № 000CL-L-000048/30.06.2010 г. and the following annexes thereto including Annex № 6 signed on 03.03.2015, between "FIRST INVESTMENT BANK" AD, "ASTERION BULGARIA" AD and AUTO UNION AD under new maximum credit limit EUR 1,800,000, new final repayment date 30 April 2020, annual rate of Base Interest Rate of the Bank for EUR plus a margin of 2.5 percentage points, commission of 0.625% per quarter on the amount of all bank guarantees, commission management fee amounting to 0.125% per quarter of the entire credit limit, and all other terms as laid down in the mentioned loan agreement and all annexes thereto, while maintaining the same scope of the original contract for pledge of dematerialized securities, namely pledge on the owned by EUROHOLD BULGARIA AD 14,099,999 dematerialized shares with a nominal value of 1 BGN, from the capital of EURO-FINANCE AD, UIC 831136740 where the parties of the Contract for pledge of dematerialized securities are EUROHOLD BULGARIA AD (pledgor) and FIRST INVESTMENT BANK AD (creditor bank)

Under item 10 of the agenda, the shareholder Dar Finance AD proposed that the

meeting of the shareholders shall not vote this item at this Extraordinary Meeting of the Shareholders and shall put off the item to be discussed at the subsequent meeting of the shareholders. The chairman of the General Meeting put this proposal to voting, and thus the General Meeting of Shareholders unanimously adopted the following

RESOLUTION № 10: To put off the voting of the draft proposal of the shareholder Starcom Holding AD

which shall be included in the agenda of the subsequent meeting of the shareholders.



Voted „Against”




-------------------------- -------------------------------- --------------------------------

Universal Pension Fund DSK Rodina voting under instructions of Starcom Holding AD

--------------------------- -------------------------------- --------------------------------


32�

pursuant to a share repurchase agreement Universal Pension Fund Future voting under instructions of Starcom Holding AD pursuant to a share repurchase agreement

------------------------- -------------------------------- --------------------------------


------------------------- -------------------------------- --------------------------------


33 457 -------------------------------- --------------------------------


34 885 -------------------------------- --------------------------------

Synthetica AD 6 310 -------------------------------- --------------------------------


71 412 -------------------------------- --------------------------------


13 800 -------------------------------- --------------------------------


6 430 -------------------------------- --------------------------------


8 995 -------------------------------- --------------------------------


542 831 -------------------------------- --------------------------------


175 000 -------------------------------- --------------------------------


116 000 -------------------------------- --------------------------------


5 300 -------------------------------- --------------------------------


15 281 400 -------------------------------- --------------------------------

Dar Finance EOOD 24 244 755 -------------------------------- --------------------------------


74 000

-------------------------------- --------------------------------


100 % -------------------------------- --------------------------------


101 477 810 -------------------------------- --------------------------------


33�


Due to termination of the agenda items the Extraordinary Meeting of the Shareholders

was closed at 12.10 p.m.

The chairman and the secretary of the Extraordinary Meeting of the Shareholders and the vote counters executed each page of these minutes.

The list of shareholders attending the Extraordinary Meeting of the Shareholders was certified by the chairman and the secretary of the Extraordinary Meeting of the Shareholders and is considered integral part thereof.

CHAIRMAN AND SECRETARIAT OF THE MEETING: Chairman of the Extraordinary Meeting of the Shareholders VELISLAV MILKOV CHRISTOV _______________________ Secretary of the Extraordinary Meeting of the Shareholders RADOSLAVA NIKOLOVA PENEVA _______________________ Vote Counters of the General Meeting of Shareholders, IVA VENTSISLAVOVA NAUMOVA _______________________ NADEZHDA PLAMENOVA SHEMSHIROVA ________________________

TO THE DEPUTY CHAIRMAN OF THE FINANCIAL SUPERVISION COMMISSION IN CHARGE OF INVESTMENT SUPERVISION DIVISION FROM EUROHOLD BULGARIA PLC, registered in the Business Register at the Registry Agency, UIN 175187337 having its headquarter and address of management at 43 Christopher Columbus Blvd., Sofia, Bulgaria Subject: list of shareholders exercising their voting rights through proxy under article 116, paragraph 11 of the Public Offering of Securities Act (POSA) Dear Deputy Chairman, According to the provisions of article 116, paragraph 11 of the Public Offering of Securities Act (POSA), hereby we would like to inform you that at the extraordinary General Meeting of Shareholders of EUROHOLD BULGARIA AD held on 17.03.2015 the listed below shareholders exercised their voting rights by their proxies as follows:

- Shareholder "STARCOM HOLDING" JSC, registered in the Commercial Register at the Registry Agency, UIC XXXXXXXXXX, voted through its proxy Velislav Milkov Hristov, PIN XXXXXXXXXX, by virtue of a notarized power of attorney, registration number 1720, issued on 16.03.2015, certified by Valentina Georgieva, public notary, registration № 340 in the Register of the Notary Chamber;

- Shareholder "DAR FINANCE" LLC, registered in the Commercial Register at the Registry Agency, UIC XXXXXXXXXX, voted through its proxy attorney Hristo Alexandrov Karaychev, PIN XXXXXXXXXX, by virtue of a notarized power of attorney, registration number 388, issued on 06.03.2015, certified by Lozan Lozanov, public notary, registration № 044 in the Register of the Notary Chamber;

- Shareholder "EUROINS INSURANCE GROUP" JSC, registered in the Commercial Register at the Registry Agency, UIC XXXXXXXXXX, voted through its proxy Nadezhda Plamenova Shemshirova, PIN XXXXXXXXXX, by virtue of a notarized power of attorney, registration number 1715, issued on 16.03.2015, certified by Valentina Georgieva, public notary, registration № 340 in the Register of the Notary Chamber;

- Shareholder "EURO-FINANCE" JSC, registered in the Commercial Register at the Registry Agency, UIC XXXXXXXXXX, voted through its proxy Radoslava Nikolova Peneva, PIN XXXXXXXXXX, by virtue of a notarized power of attorney, registration number 1711, issued on 16.03.2015, certified by Valentina Georgieva, public notary, registration № 340 in the Register of the Notary Chamber, notarized power of attorney, registration number 1712, issued on 16.03.2015, certified by Valentina Georgieva, public notary, registration № 340 in the Register of the Notary Chamber, notarized power of attorney, registration number 1713, issued on 16.03.2015, certified by Valentina Georgieva, public notary, registration № 340 in the Register of the Notary Chamber;

- Shareholder "UNIVERSAL PENSION FUND - BADESHTE", registered in the Register at the Sofia City Court under corporate file № 11576/2003, BULSTAT ХХХХХХХХХ, voted through its proxy Iva Ventsislavova Naumova, PIN XXXXXXXXXX, by virtue of a notarized power of attorney, registration number 1714, issued on 16.03.2015, certified by Valentina Georgieva, public notary, registration № 340 in the Register of the Notary Chamber;

- Shareholder "EUROINS ROMANIA ASIGURARE – REASIGURARE" S.A., registered in the Commercial Register of Bucharest under corporate file J23/2823/2011, UIN XXXXXXX, voted through its proxy Nadezhda Plamenova Shemshirova, PIN XXXXXXXXXX, by virtue of a notarized power of attorney, registration number 1710, issued on 16.03.2015, certified by Valentina Georgieva, public notary, registration № 340 in the Register of the Notary Chamber;

- Shareholder "UNIVERSAL PENSION FUND DSK RODINA", registered in the Register at the Sofia City Court under corporate file № 1779/2001, BULSTAT ХХХХХХХХХ, voted through its proxy Velislav Milkov Hristov, PIN XXXXXXXXXX, by virtue of a notarized power of attorney, registration number 2227, issued on 16.03.2015, certified by Ivaylo Nikolov, public notary, registration № 040 in the Register of the Notary Chamber;

- Shareholder "SYNTHETICA" JSC, registered in the Commercial Register at the Registry Agency, UIC XXXXXXXXXX, voted through its proxy Iva Ventsislavova Naumova, PIN XXXXXXXXXX, by virtue of a notarized power of attorney, registration number 1790, issued on 17.03.2015, certified by Valentina Georgieva, public notary, registration № 340 in the Register of the Notary Chamber;

- Shareholder "FIRST FINANCIAL BROKERAGE HOUSE" Ltd., registered in the Commercial Register at the Registry Agency, UIC XXXXXXXXXX, voted through its proxy Velislav Milkov Hristov, PIN XXXXXXXXXX, by virtue of a notarized power of attorney, registration number 1419, issued on 13.03.2015, certified by Tatyana Maleeva, public notary, registration № 199 in the Register of the Notary Chamber;

- Shareholder "KJK FUND II SICAV-SIF", an investment fund domiciled in Luxembourg, registrstion № ХХХХХХХ, voted through its proxy Razvan Stefan Lefter, PIN ХХХХХХХХХХХХХ, by virtue of a power of attorney, notarized on 06.03.2015 by Notary Public Elina Komulainen, Helsinki, Finland, with apostille 3011/2015/06.03.2015 of Olli-Pekka Siro, Notary Public and duly legalised in The Ministry of Foreign Affairs, Republic of Bulgaria, Directorate "Consular Relations" on 13.03.2015 with ID 10-D95F3A05CEE9;

- Shareholder IVA CHRISTOVA GARVANSKA-SOFIYANSKA, PIN XXXXXXXXXX, voted through its proxy Radoslava Nikolova Peneva, PIN XXXXXXXXXX, by virtue of a notarized power of attorney, registration number 1789, issued on 17.03.2015, certified by Valentina Georgieva, public notary, registration № 340 in the Register of the Notary Chamber.

17.03.2015г. Sofia City С уважение: ___________________ Asen Minchev Minchev Executive Director

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M I N U T E S from an extraordinary general meeting of ...static1.money.pl/d/akty_prawne/spolki/94/391262_0.pdf · M I N U T E S from an extraordinary general meeting of shareholders