KGHM POLSKA MIEDŹ S.A.
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KGHM POLSKA MIEDŹ S.A. GROUP

Annual consolidated financial statements

 For the period
 from 1 January 2011
to 31 December 2011
from 1 January 2010
to 31 December 2010
restated
Beginning of financial period 1 431 099 1 315 663
Purchase – BAZALT-NITRON sp. z o.o. 449 -
Share of profits of associates 187 729 280 542
Changes in equity due to payment of dividend (250 013) (146 658)
Amortisation of relations with customers identified in the process of allocating purchase cost (9 224) (18 448)
Reclassification to assets held for sale Polkomtel S.A. (1 359 568) -
End of financial period 472 1 431 099

On 9 November 2011, the Parent Entity transferred the ownership of ordinary registered shares representing 24.39% of the share capital of Polkomtel S.A. and 24.39% of the total number of votes at Polkomtel S.A.’s general meeting to Spartan Capital Holdings Sp. z o.o. The price for the shares paid by the Purchaser to KGHM amounted to PLN 3 672 147 thousand and was paid in cash by the purchaser.

The carrying amount of the shares in the consolidated financial statements of the Parent Entity at the sale date amounted to PLN 1 359 568 thousand.

Profit from sale in the amount of PLN 2 312 579 thousand was recognised in other operating income in the profit from sale of subsidiaries and associates.

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