CZECH REPUBLIC: Response from Czech National Bank on Czech Republic major shareholdings query

Tuesday March 22 2011

In response to a query on the inclusion of derivatives when calculating whether a Czech Republic major shareholdings disclosure is required, the Czech National Bank provided the following information:

“Voting rights refer primarily to the voting rights attaching to shares held by a person. However, Section 122 (2) of the Capital Market Undertakings Act sets down when other voting rights shall be added to the person`s proportion of voting rights. This includes voting rights attaching to securities which the person is entitled to acquire on its own initiative alone.”