Petition for review of reasonableness of consideration in connection with squeeze-out of shares in Paramo
Following the previous inside information and public announcements regarding the squeeze-out of shares in PARAMO, a.s. (“Paramo“) by UNIPETROL, a.s., with its registered office at Prague 4, Na Pankráci 127, Post Code: 14000, Id. No.: 61672190, as the majority shareholder within the meaning of Section 183i et seq. of the Czech Commercial Code Paramo hereby informs that in connection with the above squeeze-out some of the shareholders of Paramo filed a petition with the Regional Court in Hradec Králové for review of reasonableness of consideration within the meaning of Section 183k(1) of the Czech Commercial Code.
In the notice for convocation of the Extraordinary General Meeting of Paramo for 6 January 2009, published on 10 December 2008, the Board of Directors of Paramo made its statement concerning reasonableness of the value of consideration in the amount of CZK 977 (in words: nine hundred seventy seven Czech Crowns) per one (1) share of Paramo provided that it considered such value of consideration reasonable. The Board of Directors of Paramo insists on its aforesaid statement. This value of consideration was approved by the Extraordinary General Meeting of Paramo of 6 January 2009.
In Pardubice on 6 February 2009
Board of Directors of PARAMO, a.s.