KB prezent. angl - Komerční banka

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Legal Information
Number/nominal Number/nominal Sum of purchase Min. and max. Sum of selling Min. and max.
value of acquired value of sold prices of acquired acquisition prices of selling
shares shares shares price sold shares price
(pcs/CZK th.) (pcs/CZK th.) (CZK th.) (CZK) (CZK th.) (CZK)
Trading portfolio 1,627,516 1,624,294 3,587,584 1,817 3,568,105 1,825
813,758 812,147 2,667 2,661
Portfolio for sale 32,000 24,650 64,368 1,950 23,953 2,388
16,000 12,325 2,090 2,389
Komerční banka Global depository receipts
Global depository receipts (GDRs) were issued for shares of Komerční banka administered by The Bank of New York ADR
Department (shares held on its proprietary account in the Securities Centre). GDRs bear, in principle, the same rights as shares of the
Bank and they may be re-converted into shares. One GDR represents one third of a share of the Bank.
The GDR programme was launched at the end of June 1995 by the issue of the first block – Komerční banka entered the international
capital markets, and the second issue was in 1996.
From the start, the GDRs have been traded on the London Stock Exchange and in the PORTAL system (the market of the National
Association of Securities Dealers, Inc.) in the US. The number of GDRs issued as at 31 December 2003 was 6,249,402.
United Kingdom tax considerations
The following comments below are of a general nature and are based on current United Kingdom (“U.K.”) tax law and U.K. Inland
Revenue practice as at the date of this document, both of which are subject to change at any time, possibly with retrospective effect.
These comments represent a summary of the principal U.K. tax consequences to a holder, who or which is resident or ordinarily
resident in the U.K. or is carrying on a trade or business in the U.K. through a permanent establishment (collectively, “U.K. Holders”),
of the ownership of GDRs or Shares delivered upon surrender of GDRs. It deals only with GDRs or Shares held as capital assets and
does not deal with certain special classes of holders, such as dealers.
Taxation of dividends and other distributions
Distributions, including cash dividends paid with respect to the underlying Shares to a U.K. Holder, will generally be taxed as income of
the U.K. Holder. Any Czech withholding tax paid in respect of such distributions to a U.K. Holder will generally be available as a credit
against any U.K. tax liability of such U.K. Holder (and not recoverable from the Czech authorities) in respect of such distribution.
Where dividends are paid by or through a U.K. paying agent or collected by a U.K. collecting agent, such agent may, in certain cases, be
required to supply to the U.K. Inland Revenue details of the payment and certain details relating to the U.K. Holder (including the U.K.
Holder’s name and address). U.K. Inland Revenue published practice indicates that the U.K. Inland Revenue will not exercise its power
to obtain information where such dividends are paid or received during the 2003/2004 tax year which ends on 5 April, 2004. It has not
yet been announced whether this practice will continue for the 2004/2005 tax year which begins on 6 April, 2004. Any information
obtained may, in certain circumstances, be provided by the U.K. Inland Revenue to the tax authorities of other jurisdictions.
Sale or other disposition of GDRs
A U.K. Holder of GDRs may, depending on individual circumstances and subject to any available exemption or relief, be subjected to
United Kingdom tax on a disposition or deemed disposition of a GDR (or of Shares acquired upon surrender of GDRs). Relief may be
available for any Czech tax paid on such a disposal. There should be no liability for United Kingdom stamp duty or stamp duty reserve
tax on a disposition of a GDR provided the disposition is undertaken by delivery.