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Path to the Stock Exchange

1 July 1990

Elektrociepłownia "Będzin" becomes the independent state-owned entity.

 1992

Starting the procedure of the state-owned entity transformation into a joint-stock company. The Board of Ministers issued the agreement to transform the state-owned entity into a joint-stock company, and on the 23rd of February deed executed and authenticated by a notary was prepared. On the 1st of April the Company was registered in the Trade Register conducted by the Provincial Court in Katowice.

1994 - 1996

The first stage of restructurisation was conducted. Separating service and supplementary activities realised by the Company and creating independent economic entities according to trade law. Implementing law and organisational regulations system which enabled Elektrociepłownia “Będzin” S.A. Capital Group to be well-managed.

July 1996

Submitting privatisation application to the Ministry of Industry and Trade. The idea of privatisation invented by the Company was firstly accepted by the Ministry of Industry and Trade.

31 December 1996

The choice of the Ministry of Treasury privatisation advisor - consortium lead by Bank Gospodarki Żywnościowej Spółka Akcyjna (Food Economy Bank Plc.)

6 December 1997

The privatisation strategy in the form of public offer is accepted by the Ministry of Treasury.

31 December 1997

The submission of the Issue Prospectus, with assistance of the privatisation advisor, to the Securities and Stock Exchange Committee.

8 January 1998

The Board of Ministers Economic Committee issued opinion of acceptance of Elektrociepłownia "Będzin" S.A. privatisation project.

13 January 1998

The Board of Ministers accepted Elektrociepłownia "Będzin" S.A. privatisation project.

31 July 1998

The Securities and Stock Exchange Committee issued the resolution of admitting to public turnover 3 149 200 shares series A and 1 574 600 shares series B. The State Treasury offered 787 300 shares series A in form of public sale. 1 574 600 shares series B were to be offered as public subscription.

September 1998

Elektrociepłownia "Będzin" S.A. Management Board held the cycle of meetings with investors in chosen towns in Poland.

23 September 1998

The Board of the Warsaw Stock Exchange decided to admit Elektrociepłownia "Będzin" S.A.` s shares to public turnover.

2-6 November 1998

Public subscription of series B shares was held, with issue price of 20 PLN per share. Issue of shares failed due to insufficient subscription.

23-26 November 1998

Orders to purchase series A shares owned by the State Treasury were accepted with minimal price of 20 PLN per share.

27 November 1998

The sale of series A shares at a special Stock Exchange session in Warsaw. Investors purchased 57,8% shares offered by the State Treasury.

8 December 1998

The Company` s debut in the open market of the Warsaw Stock Exchange. The price of the Company` s shares achieved 25 PLN, that was 25% more than in public offer.

20 January 1999

15% of shares were transferred to employees of Elektrociepłownia "Będzin" S.A. by the State Treasury.

23 June 1999

The Ministry of Treasury signed 655 contracts for 472 000 free shares for empowered employees.

The Minister of Treasury invited investors to purchase the majority stockholding (from 10% to 52,5%) of Elektrociepłownia "Będzin" S.A. shares. Following enterprises were admitted to negotiations: Sydkraft AB, MEAG , STEAG AG, and Beton Stal Plc. MEAG Polska and STEAG AG were admitted to the further negotiations concerning the purchase of the Company` s shares.

6 April 2000

The Minister of Treasury guaranteed MEAG the exclusivity to negotiate the purchase of Company` s shares.

24 May 2000

Signing Social Package Agreement between Trade Unions and MEAG concerning employees guarantees and rules of social alterations. Signing the contract of the purchase of 52,5% Elektrociepłownia "Będzin" S.A. shares between the Ministry of Treasury and MEAG.

24 August 2000

MEAG obtains Consumers and Competition Protection Regulatory` s acceptance for the purchase of Elektrociepłownia "Będzin" S.A. shares.

31 August 2000

Settling payments and purchasing Elektrociepłownia "Będzin" S.A. shares by MEAG.

28 November 2000

Basing on the decision of National Deposit of Securities Plc., the employees` shares were admitted to stock turnover.

10 April 2001

MEAG increased its share capital in Elektrociepłownia "Będzin" S.A. to 62,50% (1 968 249 shares )

18 July 2001

MEAG increased its share capital in Elektrociepłownia "Będzin" S.A. to 69,56% (2 190 453 shares )

21 August 2002

Elektrociepłownia "Będzin" S.A. was notified about the fusion between Mitteldeutsche Energieversorung AG (MEAG) and envia Energie Sachsen Brandenburg AG (enviaM). The founded envia Mitteldeutsche Energie AG became the successor of MEAG and the main Elektrociepłownia "Będzin" S.A. shareholder.

22 April 2003

Basing on the resolution of the Management of the Stock Exchange shares of Elektrociepłownia "Będzin" S.A. are quoted in current quotation system in the Warsaw Stock Exchange.

14 February 2005

The Company, according to the Management of the Stock Exchange` s decision, is quoted in single-price system with two auctions.