Notice of a change of the share in the total number of votes in PEPEES S.A.

The Board of Directors of PEPEES S.A. (the “Company”) hereby informs that on 12 April 2017 they received from Epsilon Fundusz Inwestycyjny Zamknięty Aktywów Niepublicznych a notice concerning the decrease in the share in the total number of votes in the Company below the threshold of 10%, the text of which is presented by the Company below:

“We, the undersigned, acting on behalf of Epsilon Fundusz Inwestycyjny Zamknięty Aktywów Niepublicznych, entered in the Register of Investment Funds maintained by the Circuit Court in Warsaw, VII Civil Registry Division under number RFI 1000 (hereinafter referred to as “the Fund”), as Vice President of the Board of Directors and the Proxy, respectively, of the company authorised to manage and represent the Fund with its business name: SATURN Towarzystwo Funduszy Inwestycyjnych S.A., with its registered office in Warsaw at ul. Krasińskiego 2A (01-601 Warsaw), entered into the Register of Entrepreneurs maintained by the District Court for the capital city of Warsaw, XII Economic Division of the National Court Register under No. KRS 0000305034, with the share capital of PLN 2,950,000 paid up in the amount of PLN 2,670,000, NIP [Tax ID No.] 107-001-14-52, REGON [Company Stat. No.] 141340910.
Pursuant to Article 69 Clause 1 item 2 of the Act on Public Offering and Conditions Governing the Introduction of Financial Instruments to Organised Trading, and on Public Companies (consolidated text: Journal of Laws [Dziennik Ustaw] of 2016 item 1639, hereinafter “the Offering Act”), we hereby inform the Polish Financial Supervision Authority and Przedsiębiorstwo Przemysłu Spożywczego “PEPEES” S.A. with its registered office in Łomża (hereinafter “the Company”) about the change in the number of votes at the General Meeting of Shareholders of the Company involving: a decrease in the Fund’s share in the total number of votes in Przedsiębiorstwo Przemysłu Spożywczego PEPEES S.A. with its registered office in Łomża (“PPS”) below the threshold of 10%.
In order to meet the notification obligations, below we are presenting subsequent information required under Article 69 Clause 4 of the Offering Act:


1. Date and type of event which led to a change in the share which is the subject to the notification;

On 5 April 2017, as a result of OTC transactions, Epsilon FIZ AN sold the total of 4,660,000 (four million six hundred and sixty thousand) non-certificated shares of the Company with ISIN code: PLPEPES00018.
2. The number of shares held prior to the change and their percentage share in the company’s share capital, and the number of votes attached to these shares and their percentage share in the total vote;

Prior to the change of the share, Epsilon Fundusz Inwestycyjny Zamknięty Aktywów Niepublicznych held 9,931,449 shares of the Company, which accounted for 10.45% of the share capital of the Company and entitled their holder to 9,931,449 votes at the General Meeting of Shareholders, which accounted for 10.45% of the total number of votes at the General Meeting of Shareholders.

3. The number of shares currently held and their percentage share in the company’s share capital, and the number of votes attached to these shares and their percentage share in the total vote;

Epsilon Fundusz Inwestycyjny Zamknięty Aktywów Niepublicznych currently holds 5,271,499 shares of the Company, which account for 5.55% of the share capital of the Company and entitle their holder to 5,271,499 votes at the General Meeting of Shareholders, which account for 5.55% of the total number of votes at the General Meeting of Shareholders.

4. Subsidiaries of the notifying shareholder which hold the company’s shares.
Not applicable.


5. The persons referred to in Article 87 Clause 1 item 3 III. c) of the Offering Act.
Not applicable.

6. The number of votes attached to shares calculated according to Article 69b Clause 2, which may or must be acquired by it due to its status of a holder of financial instruments referred to in Article 69b Clause 1 item 1, and of financial instruments referred to in Article 69b Clause 1 item 2, which are not exercised exclusively through cash settlement, type or name of these financial instruments, their expiry date and the date on which the shares will be or may be acquired.

Not applicable.

7. The number of votes attached to shares calculated according to Article 69b Clause 3, to which financial instruments relate directly or indirectly, referred to in Article 69b Clause 1 item 2, the type or name of such financial instruments and their expiry date.

Not applicable.

8. The total number of votes indicated pursuant to items 2, 6 and 7 above and its percentage share in the total number of votes.

Epsilon Fundusz Inwestycyjny Zamknięty Aktywów Niepublicznych currently holds 5,271,499 shares of the Company, which account for 5.55% of the share capital of the Company and entitle their holder to 5,271,499 votes at the General Meeting of Shareholders, which account for 5.55% of the total number of votes at the General Meeting of Shareholders.”


Signatures of the Company’s representatives

President of the Board of Directors  Wojciech Faszczewski 2017-04-12
Member of the Board of Directors  Tomasz Rogala 2017-04-12