Consolidated financial statement of JSW S.A. Capital Group for 2012

16. Share capital

  Number of shares (thousand) Par value of ordinary shares Hyperinflation adjustment Total
As at 1 Jan 2011 * 10.885 544.2 664.9 1,209.1
As at 31 Dec 2011 119.208 596 664.9 1,260.9
As at 31 Dec 2012 117.412 587 664.9 1,251.9

* Number of shares before a 1:10 split

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The shares forming the Parent Company’s share capital have been issued and paid up in full.

  1. Pursuant to a resolution adopted by the Shareholder Meeting on 12 May 2011, the share capital of JSW S.A. was increased by the following amounts:
    1. PLN 32,020,550 through the issue of 6,404,110 series D shares with a par value of PLN 5.00 each, for the total issue price of PLN 267.4 million, offered to the State Treasury in exchange for 5,610,000 ordinary bearer shares in Kombinat Koksochemiczny Zabrze S.A. The share subscription agreement between JSW S.A. and the State Treasury was entered into on 29 June 2011. The share capital increase was registered pursuant to the decision made by the District Court in Gliwice on 20 July 2011. The transaction is described in Note 38.
    2. PLN 19,771,050 through the issue of 3,954,210 series C shares with a par value of PLN 5.00 each. The condition for the filing of an application with the District Court to register the share capital increase resulting from the series C share issue was a prior registration of the share capital increase resulting from the series D issue described above. The share capital increase was registered by a decision of the District Court in Gliwice on 19 September 2011.
  2. On 7 June 2011, the Financial Supervision Commission approved the issue prospectus of JSW S.A. In the IPO, 39,496,196 JSW S.A. shares were offered for sale, including: 30,170,616 series A shares and 9,325,580 series B shares. All shares were purchased at PLN 136.00 each. The value of the transaction exceeded PLN 5,371.5 million. The above shares were approved for trade on 4 July 2011 and introduced to trade on 6 July 2011.
  3. On 17 April 2012 the Extraordinary Shareholder Meeting adopted a resolution to retire 1,796,324 series C shares, resolution to authorize the JSW S.A. Management Board to acquire treasury shares of JSW S.A. free of charge for the purpose of retirement and resolution to reduce the share capital by PLN 8,981,620, i.e. from PLN 596,039,600 to PLN 587,057,980 and create additional reserve capital. The share capital is reduced by retiring 1,796,324 series C shares with a par value of PLN 5.00 each following the voluntary retirement procedure involving a purchase of the shares by JSW S.A. from a Shareholder Powszechna Kasa Oszczędności Bank Polski S.A. – the PKO BP Brokerage House Branch in Warsaw. The share capital reduction was registered by the decision of the District Court in Gliwice on 26 April 2012.

As at 31 December 2012, the Parent Company's share capital was PLN 587,057,980 and was divided into 117,411,596 common shares with no voting preference. All the shares were issued and registered as at the end date of the reporting period.

The Parent Company's share capital as at 31 December 2012 consists of the following share series:

Series Number of shares
A 99,524,020
B 9,325,580
C 2,157,886
D 6,404,110
Total 117,411,596

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