Note

In 2016, the Parent Company continued the shares buyout program in Grupa Azoty SIARKOPOL, acquiring 562 029 shares owned by the company’s employees and their successors for PLN 68.45 per share, i.e. for the total amount of PLN 38 471 thousand. The acquired shares represent 10.22% of the company’s share capital and the Group’s share increased from 88.20% to 98.42%. The Group recognised a decrease in non-controlling interest of PLN 40 253 thousand and increased retained earnings by PLN 1 782 thousand. In total, following this and other transactions described in point 1.2 of the Notes to the consolidated financial statements, the Group recognised a decrease in non-controlling interest by PLN 39 671 thousand and increased retained earnings by PLN 480 thousand.

Subsequent to the reporting date, the Parent Entity acquired for PLN 928 thousand 14 378 shares in Grupa Azoty SIARKOPOL representing 0.22% of the company’s share capital. Accordingly, the Parent Company’s share in the entity currently amounts to 98.68%.