UNI-EN: POWIADOMIENIE O OPERACJI INSIDERA

· 20 listopada 2009

This is a mandatory insider transaction disclosure filed with Polish financial authorities. Andrey Verevskiy, Board Chair and controlling shareholder of Kernel Holding S.A., executed a sale of 3.5 million shares through his investment vehicle Namsen Limited on November 19, 2009. The transaction reduces Namsen's holdings from 40.574 million shares (pre-sale) to 37.074 million shares (post-sale), representing 53.95% of issued shares. While the shareholder retains a dominant controlling position, the sale represents an 8.6% reduction of their previous stake and suggests portfolio rebalancing or possible liquidity needs during the 2009 post-financial-crisis recovery period. The regulatory filing is routine but warrants broker monitoring to assess whether this constitutes a one-time rebalancing event or the beginning of a systematic reduction in insider commitment. The transaction does not alter the control structure of KER, but it does reduce the insider's proportional exposure. Given the timing in 2009 (height of financial stress), this could indicate either prudent diversification or underlying company pressure. Brokers should monitor for follow-up transactions and assess market implications if insider sales accelerate.

Kluczowe dane finansowe

Shares sold

Single transaction on 2009-11-19 by controlling shareholder Namsen Limited

3,500,000
Pre-transaction holdings

Andrey Verevskiy via Namsen Limited before sale

40,574,250 shares
Post-transaction holdings

Remaining stake after 3.5M share sale

37,074,250 shares
Ownership percentage after sale

Of total issued shares; maintains controlling interest

53.95%
Holdings reduction

3.5M shares represent 8.6% reduction from pre-sale 40.6M total

8.6%
Insider role

Andrey Verevskiy is the Chairman of the Board and primary controlling shareholder

Przewodniczący Rady Dyrektorów (Board Chair)
Filing authority

ESPI system report (Art. 160 ust 4 Ustawy o obrocie)

POLISH FINANCIAL SUPERVISION AUTHORITY (UNI)
Filing date

Report filed one day after transaction execution (Nov 19)

2009-11-20
Control structure post-transaction

53.95% ownership is well above control threshold (~33%)

Maintained
Transaction type classification

Sprzedała (sold) shares in single transaction; not a grant or exercise

SELL by controlling shareholder

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