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First quotation

ULMA Construccion Polska S.A. (BAUMA S.A.) - joint-stock company - was the hundredth company quoted on the Warsaw Stock Exchange. Its debut took place on 21st May 1997.

The Company’s offer consisted of 1,200,000 ordinary bearer shares of the C series, each with the nominal value of PLN 2. The issuing price was agreed upon by the Management Board and equaled PLN 10. The preferential right of the existing shareholders to obtain shares was excluded from the framework of C series shares issuing. The exclusion of the right to acquire shares resulted from the Company’s need to accumulate capital in the face of intended investments and the need to acquire proper dispersion of shareholders.

The main purpose of issuing the C series shares was to gain financial resources for activities that, according to the Company’s strategy, would lead to gaining advantage over the main competitors on the market in central Poland, and also would enable extending the activity into new areas of the country.