On July 18th 2013, the Extraordinary General Meeting of the Shareholders of the “Bulgarian-American Credit Bank” (“BACB”) took place with the following Agenda and proposed resolutions as per the Call Notice for the GSM, published in the Commercial Register on June 17th 2013.

The General Meeting of the Shareholder took the following decision under Item 1 of the Agenda, as follows:

Pursuant to the provisions of art. 114 of POSA the General Meeting of the Shareholders APPROVES “Bulgarian-American Credit Bank” to acquire ownership titles through sale-purchase of real estate properties from the seller Imoti Direct REIT, located in Burgas and Sofia, as follows:

1. Acquisition through purchase-sale of real estate properties, located in Burgas, 13 Hristo Botev Str;
2. Acquisition through purchase-sale of real estate properties, located in Sofia, Simeonovsko Shose Blvd;
3. Acquisition through purchase-sale of real estate properties, located in Sofia, Gen.Stoletov Str., Area “ГГЦ-Зона В-17”, Banishora district;
4.  Acquisition through purchase-sale of real estate properties, located in Sofia, 100, 102, 104 Odrin Str.;
5. Acquisition through purchase-sale of real estate properties, located in Sofia, 32-34 Osogovo Str,;
6. Acquisition through purchase-sale of real estate properties, located in Sofia, area “Tsarigradsko Shose 7 – 11 km.

which real estate properties are described in detail and individualized in the Minutes of the extraordinary General Meeting of the Shareholders, held on July 18th 2013, under purchase prices of the separate properties specified in the Minutes of the GMS and equal to the market appraisals of the real estate properties, prepared pursuant to the requirements of POSA and pointed out in the Report under 114a of POSA.

The General Meeting of the Shareholders ASSIGNES and AUTHORIZES the Executive Directors of BACB to take all and any actions in regard with entering into and execution of transactions for BACB as a purchaser, purchasing the above mentioned real estate properties from the seller Imoti Direct REIT under price and material terms and conditions under the Sale-purchase agreement/s as per the decision of the General Meeting of the Shareholders and other terms and conditions as they deem appropriate.

Detailed information in regard with the real estate properties subject of the sale, the acquisition prices and the other specific terms and conditions under the sale-purchase transactions can be found in the Minutes of the General Meeting of the Shareholders, dated July 18th 2013. The Minutes shall be announced within the statutory deadlines.
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