Position of supervisory board of Paramo, a.s. concerning review of actions of board of directors by supervisory board in connection with statement on reasonableness of consideration within squeeze-out of company shares
On 10 December 2008, the Supervisory Board of PARAMO, a.s. („Paramo“) received a request of a shareholder of Paramo, Mr. Petr Streitberg, residing at Na Kuthence 16, 160 00 Prague 6 (the “ Shareholder”), dated 10 December 2008 (the “Request”), which was made under Section 182(1)(b) of the Commercial Code.
The Shareholder requests that the Supervisory Board reviews the actions of the Board of Directors in connection with its statement that the amount of the consideration payable to other shareholders of Paramo by UNIPETROL, a.s. (“Unipetrol”) within the squeeze-out of shares in Paramo pursuant to Section 183i et seq. of the Commercial Code is reasonable (the “Statement”).
The Supervisory Board completed its review of the Request at its meeting held on 6 January 2009 and concluded that the Board of Directors in the course of the exercise of its actions in connection with the Statement has not violated any of its obligations stipulated by applicable law.
In Pardubice, on 6 January 2009
PARAMO, a.s.
6 Jan 2009
