Pursuant to article 148b of the Public Offering of Securities Act (POSA), Bulgarian-American Credit Bank (“BACB”) notifies you that on March 11th 2015 BACB received notifications for disclosing of direct shareholding under art. 145 of the Public Offering of Securities Act, as follows:

1.Two notifications from the shareholder “Gramercy Select Master Fund”,  as follows:

        A/ Notification from the shareholder “Gramercy Select Master Fund”, stating that on March 6th 2015 “Gramercy Select Master Fund” transferred by sale-purchase transaction 8,081,692 (eight million eighty-one thousand six hundred and ninety two) of the shares owned by the fund in the capital of BACB (ISIN BG1100098059) (or 32.73% of the capital of BACB) to “LTBI Holdings” LLC, a limited liability company, duly incorporated and existing under the laws of the State of Delaware, USA, entered into the Division of Corporations of the State of Delaware under file No. 5577066, SRV 141009822.
        B/ Notification from the shareholder “Gramercy Select Master Fund”, stating that on March 10th 2015 “Gramercy Select Master Fund” transferred by sale-purchase transaction 560,951 (five hundred and sixty thousand nine hundred and fifty one) of the shares owned by the fund in the capital of BACB (ISIN BG1100098059) (or 2.27% of the capital of BACB) to “LTBI Holdings” LLC, a limited liability company, duly incorporated and existing under the laws of the State of Delaware, USA, entered into the Division of Corporations of the State of Delaware under file No. 5577066, SRV 141009822.
 
As a result of the above described transfer transactions“ Gramercy Select Master Fund” transfers to “LTBI Holdings” LLC all of its shares in the capital of BACB (or 35% of the capital) and after the transfer Gramercy Select Master Fund does not hold any shares of the capital of BACB.

2.Two notification from “LTBI Holdings” LLC, as follows:

       A/ Notification from “LTBI Holdings” LLC, stating that on March 6th 2015 “LTBI Holdings” LLC acquired through sale-purchase transaction 8,081,692 (eight million eighty-one thousand six hundred and ninety two) of the shares owned by the fund in the capital of BACB (ISIN BG1100098059) (or 32.73% of the capital of BACB) from the shareholder “Gramercy Select Master Fund”.
       B/ Notification from “LTBI Holdings” LLC, stating that on March 10th 2015 “LTBI Holdings” LLC acquired through sale-purchase transaction 560,951 (five hundred and sixty thousand nine hundred and fifty one) of the shares owned by the fund in the capital of BACB (ISIN BG1100098059) (or 2.27% of the capital of BACB) from the shareholder “Gramercy Select Master Fund”.

As a result of the above described transfer transactions “LTBI Holdings” LLC“  acquired shareholding in BACB capital of 35.00% (or 8,642,643 shares).

The above mentioned notifications contain and represent on behalf of the new shareholder of BACB - “LTBI Holdings” LLC information, which we disclose herewith:
“LTBI Holdings” LLC is a company, duly established and existing under the laws of the State of Delaware, USA. The company is incorporated as a private equity investment fund with the equity contribution of the participating investors. Following the common private equity investment structure, “LTBI Holdings” LLC is an investment pool in which passive investors contribute equity. Members of “LTBI Holdings” LLC with equity participation, direct and indirect, are institutional investors- pension funds. The investment activity and control on the fund’s activities are assigned and performed by the managing member /manager/ - GDOF Management LLC. In accordance with agreements with the other members the Managing Member GDOF Management LLC represents and manages the affairs of “LTBI Holdings” LLC and respectively can exercise decisive influence and control over “LTBI Holdings” LLC.
The Managing Member GDOF Management LLC is owned by Gramercy Funds Management LLC – part of the Gramercy group and is controlled by the same individuals who are controlling the transferor of the shares - Gramercy Select Master Fund according to the information disclosed in the Commercial Register.  

The following documents are attached hereto:
Notifications under art.145 of POSA from Gramercy Select Master Fund;
Notifications under art. 145 of POSA from LTBI Holdings LLC;
Additional information for LTBI Holdings LTD;