VISTULA GROUP (Resolution No. 528/2016)

Resolution No. 528/2016
of the Management Board of the Warsaw Stock Exchange
dated 27 May 2016

concerning the admission and the introduction to exchange trading
on the GPW Main List of series L and N bearer ordinary shares of
the company VISTULA GROUP S.A.

§ 1

The Exchange Management Board represents that pursuant to § 19.1-2 of the Exchange Rules to exchange trading on the main market are admitted:

1) up to 473,973 series L bearer ordinary shares of the company VISTULA GROUP S.A. a par value PLN 0,20 each, issued within the conditional increase of the share capital upon the Resolution No. 23/04/2012 of the Company’s General Meeting of Shareholders dated 23 April 2012 and amended by the Resolution No. 04/03/2016 of the Company’s Extraordinary General Meeting of Shareholders dated 31 March 2016;

2) up to 6,000,000 series N bearer ordinary shares of the company VISTULA GROUP S.A. a par value PLN 0,20 each, issued within the conditional increase of the share capital upon the Resolution No. 21/04/2015 of the Company’s General Meeting of Shareholders dated 15 April 2015.

§ 2

Pursuant to § 38.1 and § 38.3 of the Exchange Rules, the Exchange Management Board resolves to introduce by way of an ordinary procedure to exchange trading on the main market the series L shares of the company VISTULA GROUP S.A., mentioned in § 1.1), on the date of the registration of those shares under the code “PLVSTLA00011” by the National Depository for Securities but not earlier than as of 31 May 2016.

§ 3

Pursuant to § 38.1 and § 38.3 of the Exchange Rules, the Exchange Management Board resolves to introduce by way of an ordinary procedure to exchange trading on the main market the series N shares of the company VISTULA GROUP S.A., mentioned in § 1.2), on the date of the registration of those shares under the code “PLVSTLA00011” by the National Depository for Securities but not earlier than as of 1 June 2016.

§ 4

This Resolution shall take effect on the date of adoption.