First quotation

On 18 July 2006, The Warsaw Stock Exchange Management Board has adopted a resolution No. 239/2006 regarding the admission and introduction to stock exchange trading on the main market of the WSE of ordinary bearer shares of series A2 and series B and rights to shares Inwest Consulting S.A.

The Warsaw Stock Exchange Management Board resolved to introduce to exchange trading on the main market of 1.000.000 bearer shares of series A2 with nominal value of 1 PLN and 1.000.000 bearer shares of series B with nominal value of 1 PLN, conditional on the share capital increase through the issue of shares of series B. The WSE Board decided to admit to trading on the main market of 1,000,000 rights to shares of series B  of Inwest Consulting SA.

On 19 July 2006, The WSE Management Board regarding Resolutions No. 241/2006 resolved to introduce as of 20 July 2006 shares of the Company by way of an ordinary procedure to exchange trading on the main market, conditional on the registration of 1.000.000 bearer shares of series B  with nominal value of 1 PLN and their coding as “PLINCLT00023” by the National Depository for Securities.

The first listing of rights to shares of series B held on 20 July 2006.

Share split

On 15 January 2008 the Extraordinary General Meeting of the Issuer decided of Resolution No. 5 to split of the shares by reducing the nominal value of the Company’s shares from 1.00 PLN to 0.50 PLN.
As a result of split of shares, one share with nominal value of 1.00 PLN replaced by two shares with nominal value of 0.50 PLN (1:10 split of shares). The split of shares was carried out while maintaining the same share capital. All shares retained their previous rights. The above changes in the company’s capital were registered on 25 January 2008 to the decision of the District Court in Poznan. On 13 February 2008 the Board of National Depository for Securities (KDPW) regarding to Resolution No. 87/08 resolved to determine as of 22 February 2008 the day of split shares of Inwest Consulting S.A. from 1.00 PLN to 0.50 PLN

Dividend

Dividend was not paid.

Subscription rights

On 16 November 2008 the Extraordinary General Meeting of the Issuer decided of Resolution No. 4  to issue of series C shares including rights from shares. Day of setting pre-emptive rights was determined on 8 December 2006. Prospectus has been approved on 4 January 2007. Opening of the subscription period: 15 January 2007, closing of the subscription period: 19 January 2007. As part of the subscription were offered 3,500,000 of series C ordinary bearer shares with a nominal value 1.00 PLN, offered by the Company with pre-emptive rights of the existing shareholders. On 27 February 2007 to the decision of the District Court in Poznan registered an increase of share capital by the amount of 3,500,000 PLN to 7.000.000 PLN.

On 15 January 2008 the Extraordinary General Meeting of the Issuer decided of Resolution No. 6  to issue of series F shares including rights from shares. Day of setting pre-emptive rights was determined on 10 April 2008. Prospectus has been approved on 11 August 2008. Opening of the subscription period: 25 August 2008, closing of the subscription period: 10 September 2008. As part of the subscription were offered 15.099.998 of series C ordinary bearer shares with a nominal value 0.50 PLN, offered by the Company with pre-emptive rights of the existing shareholders. On 4 November 2008 to the decision of the District Court in Poznan registered an increase of share capital from the amount of 7.549.999 PLN to 15.099.998 PLN.

Further issue of shares

Issue of series B shares excluding rights from shares:
Public offering of 1.000.000 of series B shares. Issue price: 3.75 PLN. All offered shares were subscribed. The issue was held in 2006.

Issue of series C shares including rights from shares:
Public offering of 3.500.000 of series B shares. Issue price: 1.00 PLN. All offered shares were subscribed. The issue was held in 2007.

Issue of series D shares excluding rights from shares:
Private placement of 350.000 of series D shares. Issue price: 1.00 PLN. All offered shares were subscribed. The issue was directed to the shareholders of the acquired company IPO Doradztwo Strategiczne Sp. z o.o. The issue was held in 2007.

Issue of series E shares excluding rights from shares:
Private placement of 199.999 of series E shares. Issue price: 14.66 PLN. All offered shares were subscribed. The issue was directed to ING Investment Management S.A The issue was held in 2007.

Issue of series F shares including rights from shares:
Public offering of 15.099.998 of series F shares. Issue price: 0.55 PLN. All offered shares were subscribed. The issue was held in 2008.

Issue of series G shares including rights from shares (merger issue):
Public offering directed to the shareholders of the acquired company Inwest Connect S.A of issued 2.672.400 of series G shares. Issue price: 0.55 PLN. All offered shares were subscribed. The share exchange in the ratio of 1:1. The issue was held in 2009.

Issue of series H shares (incentive program):
In connection with realization of conditions of entry into force the first tranche of Incentive Program adopted Resolution No. 19 of the Ordinary General Meeting of 19 May 2010, on 1 June 2010 entitled persons have executed the rights to subscribe of series H shares and have made a statement about taking-up 500.000 ordinary bearer series H ordinary with nominal value of 1.04 PLN.
Further introduction of shares to trading

On 9 August 2006 were introduced to trading on WSE 2.000.000 of series A2 shares and series B shares.
On 22 March 2007 were introduced to trading on WSE 3.500.000 of series C shares.
On 19 July 2007 were introduced to trading on WSE 350.000 of series D shares and 199.999 of series E shares.
On 13 November 2009 were introduced to trading on WSE 15.099.998 of series F shares.
On 14 October 2009 were introduced to trading on WSE 2.672.400 of series G shares.
In the case of series B, C, F shares before introduction, there were traded rights to shares.

Tender offer

Tender offer were not announced for the shares of the company.

Compulsory buyout

Compulsory buyout were not announced for the shares of the company.

Reverse split

On 20 May 2014, by the decision of General Meeting of Shareholders the par value of Company’s shares was increased from the value of 0.50 PLN to the value of 2.0 PLN with the proportionate reduction in the number of shares from 33,372,396 to 8,343,099, maintaining unchanged the amount of share capital and the powers resulting from shares (reverse split).

The previous series A1 including 3,000,000 shares, presently includes 750,000 shares with the voting preference 3 per share. The previous series A2, B, C, D, E, F, G, H have been marked as the series A2 including 7,593,099 shares, giving the same number of votes.