RB nr 29/2008

Legal basis: Art. 56 subpar. 1 pt. 1

The Management Board of MCI Management SA (MCI) informs that on May 15, 2008 MCI sold to Mr. Jan Czarnecki 566 shares in Finepharm sp. z o.o. (Finepharm) with the nominal value of PLN 158 each, representing 19.99% of the share capital of that company, that is all shares held by MCI, for the total price of PLN 2,500,000. The ownership of the shares was transferred as a result of payment of the whole sale price in cash.
Consequently, on May 15, 2008 the Agreement between MCI, Jan Czarnecki and Finepharm terminating the Investment Agreement binding the parties came into force.
The sale of shares in Finepharm is another exit from investment made by MCI in 2008, this time in the form of MBO – Mr. Jan Czarnecki holds the position of the President of the Management Board of Finepharm.
The IRR realized as a result of exit from Finepharm, project managed by MCI.EuroVentures 1.0. subfund, reached 127%.
Exit from Finepharm is a consequence of MCI.EuroVentures 1.0. strategy assuming making LBO, PIPE transactions by the fund mainly in TMT and Financial Services sectors, in the models similar to ABC DATA transactions (leveraged buyout of market leader with strong foundation and target value of the investment at PLN 50-200 million and expected rate of return of 3 to 5 times the invested capital.)