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A call to deposit shares in the company

In connection with the entry into force of the Act of August 30, 2019 amending the Code of Commercial Companies and certain other acts (Journal of Laws of 2019, item 1798), hereinafter referred to as the “Act”, Menlo Electric Spółka Akcyjna ( hereinafter referred to as: “Company”), informs the shareholders about introducing the obligatory dematerialisation of company shares into the Polish legal order, which means replacing the paper form of shares with an electronic entry in the register of shareholders kept by the entity referred to in Art. 3281 § 2 of the Commercial Companies Code in the wording specified in the Act.

According to the introduced changes, the validity of the applicable share documents issued by the Company expires by operation of law on March 1, 2021. After that date, the shares will not be a document confirming the status of a shareholder, but only a documentary evidence necessary to update the electronic register of shareholders. However, after March 1, 2026, the protection of membership rights will be lost by shareholders whose share certificates have not been deposited with the company and have not been entered in the electronic register of shareholders.

In connection with the above changes, the Management Board of the Company calls on all shareholders to submit share documents no later than August 31, 2021 at the registered office of the Company, so that they can be converted into an electronic record. The submission of share documents in the Company takes place with a written confirmation issued to the shareholder.

The Management Board of Menlo Electric S.A.