Proceeds from securities issues

In 2012, the Parent Company did not issue any securities and thus did not receive any proceeds from securities issues. Furthermore, JSW S.A. did not receive any proceeds from the sale of shares by the State Treasury under the public offering of shares sold in 2011.

During 2012, SEJ (a JSW S.A. subsidiary) issued intra-group bonds for the total amount of PLN 10.0 million. All these bonds were acquired by the Parent Company. Cash obtained from these bonds was used for general corporate purposes in accordance with the issue plan.