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BURSA DE VALORI BUCURESTI SA - BVB

Information regarding the BVB management - clarifications

Release Date: 8/21/2017 8:42:13 PM

IRIS Code: 12218

To: Financial Supervisory Authority

Fax: 021- 659.60.51

Bucharest Stock Exchange

Fax: 021-256.92.76

CURRENT REPORT

In compliance with the provisions Law no. 24/2017 on issuers of financial instruments and market operations and Regulation no. 1/2006 regarding the issuers and the operations with securities

Date of report: 21 August 2017/ No 6108

Name of issuer: Bursa de Valori Bucuresti S.A.

Registered office: 34-36 Carol I Blvd, 13-14 floors, district 2, Bucharest, postal code 020922

Telephone/fax number: + 40 21 3079500; + 40 21 3079519

Sole registration number with the Trade Register Office: 17777754

Trade Register number: J40/12328/2005

Share capital: RON 76,741,980

Regulated market on which the issued securities are traded: BVB - Premium Tier Shares

Significant event to be reported: Information regarding the BVB management - clarifications

BURSA DE VALORI BUCURESTI S.A. (hereinafter referred to as the "Company" or the “BVB”) informs that on 21 August 2017 expires the mandate agreement of the BVB CEO, Mr Ludwik Sobolewski. This fact creates an unusual legal situation, considering that the decision of the BVB Board of Governors no. 79/1st of July 2013 (which was the base for the approval of the Financial Supervisory Authority by decision no. 616/21st of August 2013) did not provide a deadline for the appointment of Mr. Sobolewski in this capacity, and the decision to approve the mandate contract was a separate one, which did not foresee the termination of the position of CEO upon termination of the mandate contract. The situation could be clarified by a decision of the BVB Board of Governors. The decision to extend the term of office of the CEO was not taken in the meeting of the BVB Board of Governors convened for 18th of August 2017 on the subject, because of the lack of quorum. Also, there was no decision to revoke Mr. Sobolewski.

Considering the necessity of a good functioning of the Company, the delimitation of attributions between the appointed officers of the Company and the legal provisions regarding the termination of the mandates which have the purpose of concluding successive acts during an activity with continuity character, Mr. Sobolewski may continue his mandate until the Board of Governors decides to revoke him. The terms and conditions for the execution of the mandate will be defined, or another decision will be taken by the BVB Board of Governors in this regard. Until such a decision is made, Mr. Sobolewski has decided not to exercise his mandate, given the unusual legal situation.

All the implications were presented at the BVB Board of Governors meeting of 18th of August 2017, and the Current Report published on 21st of August 2017 was approved by the BVB Audit Committee.

Ludwik Sobolewski

CEO



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