2017

(30/06/2017) Current report no 2/2017 – The resolutions of the Ordinary General Shareholders Meeting of June 30, 2017

Current Report 1/2017

Carpathia Capital S.A. (hereinafter referred to as “the Company”) hereby reports the resolutions of the Ordinary General Meeting held on June 30, 2017 at 9.30 a.m. at the Company’s registered office in Poznań, Krasińskiego street 16, 60-830 Poznań.

Resolutions (link)

(08/06/2017) Announcement of the Management Board of Carpathia Capital of the convening of the Ordinary General Meeting

Announcement on convening a Shareholders Meeting

Carpathia Capital Spółka Akcyjna with its registered office in Poznań, Krasińskiego street 16, 60-830 Poznań, registered in the commercial register maintained by the District Court in Poznań – Nowe Miasto i Wilda, VIII Commercial Division of the National Court Register under number KRS 0000511985, (“Company”) is convening the Ordinary General Meeting of Shareholders on June 30, 2017.

Announcement

(20/01/2017) Current report no 1/2017 – Calendar of financial communication

Current Report 1/2017

Carpathia Capital S.A. (hereinafter referred to as the “Company”) hereby informs about adoption of financial communication calendar.

The Company will publish periodical reports on the following days:

  • Report for 4th quarter of 2016 – February 15, 2017
  • Annual report for 2016 – April 28, 2017
  • Report for 1st quarter of 2017 – May 15, 2017
  • Half-year report for 1st half of 2017 – August 30, 2017
  • Report for 3rd quarter of 2017 – November 13, 2017

The Company plans to conduct an Annual General Shareholders Meeting on June 30, 2017.

Current Report 1/2017

2016

(22/12/2016) Current report no 17/2016 – VIOLATION OF THE TERMS OF ISSUE OF BONDS BY MOTO44 S.A.

Current Report 17/2016

Carpathia Capital SA (hereinafter called the “Company”) hereby informs that  Moto44 S.A. (hereinafter called “Moto44”, the “ Issuer of Bonds”) in a transaction about which the Company informed in current reports 1/2016 and 2/2016, did not make timely redemption of bonds for a total amount of 1,050,000 PLN. Due to the financial results achieved by the Moto44 SA in the first three quarters of 2016. Carpathia Capital SA has not exercised  the option for conversion of liabilities of the Bonds Issuer into the shares of the transformed company.
Carpathia Capital SA has not approved  the proposal to extend the maturity of the bonds terms proposed by the Issuer of bonds. Bonds of Moto44 are secured by real estate, the value of which, in the opinion of the Company, secures the repayment of liabilities resulting from the issuance of bonds with interest.

The Company will inform about the further course of the transaction.

Current Report 17/2016

(08/11/2016) Current report no 16/2016 – Amendment of the calendar of financial communication

Current Report 16/2016

Carpathia Capital S.A. (hereinafter referred to as the “Company”) hereby informs about changes in the calendar of financial communication.

The Company decided to change the date of the report for 3rd quarter of 2016. Originally the date was set at November 13, 2016 (Sunday). The amended date of disclosure of the report is November 14, 2016 (Monday).

Taking the above change into consideration, the Company will publish periodical report on the following day:

– Report for 3rd quarter of 2016 – November 14, 2016

 

Current Report 16/2016

 

(31/10/2016) Current report no 15/2016 – Registration of a share capital increase by the Court

Current Report 15/2016

Carpathia Capital S.A. (hereinafter referred to as “the Company”) hereby informs about a registration of a share capital increase from PLN 1 893 048,00 (one million eight hundred ninety-three thousand forty-eight zlotys) to PLN 1 951 381,50 (one million nine hundred fifty-one thousand three hundred eighty-one zlotys and fifty groszy) by the Court in the Trade Register. The increase was a result of the issue of 116 667 (one hundred sixteen thousand six hundred sixty-seven) series B3 common shares with nominal value of PLN 0,50 (fifty groszy) per share.

After the registration the Company’s share capital amounts to PLN 1 951 381,50 (one million nine hundred fifty one thousand three hundred eighty one zlotys and fifty groszy) and is composed of 3 902 763 (three million nine hundred two thousand seven hundred sixty-three) shares:

a) 1 000 000 (one million) series A preferred shares (giving 2 votes per share) with nominal value of PLN 0,50 (fifty groszy) per share,
b) 1 003 666 (one million three thousand six hundred sixty six) series B common shares with nominal value of PLN 0,50 (fifty groszy) per share,
c) 275 000 (two hundred seventy five thousand) series B2 common shares with nominal value of PLN 0,50 (fifty groszy) per share,
d) 795 991 (seven hundred ninety five thousand nine hundred ninety one) series C common shares with nominal value of PLN 0,50 (fifty groszy) per share,
e) 711 439 (seven hundred eleven thousand four hundred thirty nine) series D common shares with nominal value of PLN 0,50 (fifty groszy) per share,
f) 116 667 (one hundred sixteen thousand six hundred sixty seven) series B3 common shares with nominal value of PLN 0,50 (fifty groszy) per share.

The share capital was fully paid in cash.
The amount of capital raised totaled PLN 173 833,83 (one hundred seventy-three thousand eight hundred thirty-three zlotys and eighty-three groszy), shares were fully paid in cash.

Current Report 15/2016

(14/07/2016) Current report no 14/2016 – Acquisition of shares in INC Brokerage House S.A.

Current Report 14/2016

Carpathia Capital SA (hereinafter called the “Company”) hereby informs about another capital investment. On July 14, 2016 the Company entered an agreement to acquire shares of Dom Maklerski INC S.A. (INC Brokerage House). Under the said agreement the Company acquired 49 registered C series shares for an issue price of PLN 122,500, which will represent 9.98% in the share capital of INC Brokerage House after the registration of share capital increase.

INC Brokerage House with seat in Poznan (formerly PricewaterhouseCoopers Securities S.A. with seat in Warsaw) has been authorized on February 21, 2012 by the Polish Financial Supervisory Authority (PFSA) (decision DRK/WL/4020/36/14/102/1/2012) to conduct offerings of financial instruments (Art. 69 par. 2 point 6 of the Act of 29 July 2005 Trading in Financial Instruments, Journal of Laws 2005 No. 183, item. 1538, as amended).

INC Brokerage House offers comprehensive services in the area of primary and secondary public and private securities offerings (Initial Public Offering, Secondary Public Offering) on the regulated market of the Warsaw Stock Exchange, the NewConnect market and the Catalyst market. The range of services related to conducting offerings of financial instruments includes, among others, drafting transaction documents, including: prospectuses, information memoranda, information documents and offering documents.

On September 30, 2015 INC S.A. acquired 100% shares of PricwaterhouseCoopers Securities S.A. with a seat in Warsaw from PricewaterhouseCoopers Eastern Europe BV with a seat in Rotterdam. From that day, after changing the name to Dom Maklerski INC S.A. (INC Brokerage House), the brokerage house operates within INC S.A. capital group which is based in Poznan. INC S.A. is a dynamically developing Polish capital group functioning in the area of advisory services and capital market investments. Since 2006 INC S.A. is a public company listed on the Warsaw Stock Exchange (it debuted as Inwest Consulting S.A.). INC S.A. is an Authorized Adviser on the NewConnect and Catalyst markets in Poland as well as on the AeRO market in Romania.

Current report 14/2016

(30/06/2016) Current report no 13/2016 – The resolutions of the Ordinary General Shareholders Meeting of 30th June 2016

Current report 13/2016

Carpathia Capital S.A. (hereinafter referred to as “the Company”) hereby reports the resolutions of the Ordinary General Meeting held on June 30, 2016 at 10 a.m. at the Company’s registered office in Poznań, Krasińskiego street 16, 60-830 Poznań.

Current report 13/2016 and Resolutions

(03/06/2016) Announcement of the Management Board of Carpathia Capital of the convening of the Ordinary General Meeting

Announcement on convening a Shareholders Meeting

Carpathia Capital Spółka Akcyjna with its registered office in Poznań, Krasińskiego street 16, 60-830 Poznań, registered in the commercial register maintained by the District Court in Poznań – Nowe Miasto i Wilda, VIII Commercial Division of the National Court Register under number KRS 0000511985, (“Company”) is convening the Ordinary General Meeting of Shareholders on June 30, 2016.

Announcement

(01/06/2016) Current report no 12/2016 – Notification – transactions of insiders

Current report 12/2016

Carpathia Capital SA (hereinafter called the “Company”) hereby informs about receiving a notification of insider transactions from INC S.A. on June 1, 2016. The aforementioned notification is attached to this report.

Notification

Attachment

(25/05/2016) Current report no 11/2016 – Notification – transactions of insiders

Current report 11/2016

Carpathia Capital SA (hereinafter called the “Company”) hereby informs about receiving a notification of insider transactions from INC S.A. on May 25, 2016.

The aforementioned notification is attached to this report.

Notification

Attachment

(24/05/2016) Current report no 10/2016 – Notification – transactions of insiders

Current report 10/2016

Carpathia Capital SA (hereinafter called the “Company”) hereby informs about receiving a notification of insider transactions from INC S.A. on May 24, 2016.

The aforementioned notification is attached to this report

Notification

Attachment

(12/05/2016) Current report no 9/2016 – Amendment of the calendar of financial communication

Current report 9/2016

Carpathia Capital S.A. (hereinafter referred to as the “Company”) hereby informs about changes in the calendar of financial communication.

The Company decided to change the date of the report for 1st quarter of 2016. Originally the date was set at May 15, 2016 (Sunday). The amended date of disclosure of the report is May 16, 2016 (Monday).

Taking the above change into consideration, the Company will publish periodical reports on the following days:

Report for 4th quarter of 2015 – February 15, 2016

Annual report for 2015 – April 29, 2016

Report for 1st quarter of 2016 – May 16, 2016

Half-year report for first half of 2016 – August 31, 2016

Report for 3rd quarter of 2016 – November 13, 2016

The Company plans to conduct an Annual General Shareholders Meeting on June 30, 2016.

Current Report 9/2016

(23/02/2016) Current report no 8/2016 – Notification – transactions of insiders

Current report 8/2016

Carpathia Capital SA (hereinafter called the “Company”) hereby informs about receiving a notification of insider transactions from INC S.A. on February 23, 2016.

The aforementioned notification is attached to this report.

Notification

Attachment

(23/02/2016) Current report no 7/2016 – Changes in the composition of the Management Board and the Supervisory Board

Current report 7/2016

Carpathia Capital SA (hereinafter called the “Company”) hereby informs that on February 22, 2016 Mr. Piotr Białowąs resigned from the position of a member of the Supervisory Board and on February 23,2016 was appointed as President of the Management Board.

On the same day of February 23, 2016 Mr. Paweł Śliwiński resigned from the position of President of the Management Board and the Extraordinary General Meeting of Shareholders, acting pursuant to art. 385 § 1 of the Commercial Companies Code, appointed Mr. Paweł Śliwiński as a member of the Supervisory Board.

Current report 7/2016

(23/02/2016) Current report no 6/2016 – The resolutions of the Extraordinary General Shareholders Meeting of 23th February 2016

Announcement on convening a Shareholders Meeting

Carpathia Capital S.A. (hereinafter referred to as “the Company”) hereby reports the resolutions of the Extraordinary General Meeting held on February 23, 2016 at 9:30 a.m. at the Company’s registered office in Poznań, Krasińskiego street 16, 60-830 Poznań.

Current Report 6/2016 and Resolutions

(26/01/2016) Current report no 5/2016 – Acquisition of own shares

Current report 5/2016

Carpathia Capital SA (hereinafter called the “Company”) hereby informs that on January 25, 2016, the Company acquired 172,602 of its own shares at a total value of RON 258,903.00 through a block trade. The aim of the acquisition is redemption of own shares or their further resale. The shares represent 4.56% of the share capital of the Company and 3.61% of the voting rights.

The Company owns in total 172,602 of its own shares representing 4.56% of the share capital of the Company and 3.61% of the voting rights.

Current report 5/2016

(26/01/2016) Current report no 4/2016 – Calendar of financial communication

Current report 4/2016

Carpathia Capital S.A. (hereinafter referred to as the “Company”) hereby informs about adoption of financial communication calendar. The

Company will publish periodical reports on the following days:

Report for 4th quarter of 2015 – February 15, 2016

Annual report for 2015 – April 29, 2016

Report for 1st quarter of 2016 – May 15, 2016

Half-year report for first half of 2016 – August 31, 2016

Report for 3rd quarter of 2016 – November 13, 2016

The Company plans to conduct an Annual General Shareholders Meeting on June 30, 2016.

Current report 5/2016

(25/01/2016) Current report no 3/2016 – Notification – transactions of insiders

Current report 3/2016

Carpathia Capital SA (hereinafter called the “Company”) hereby informs about receiving a notification of insider transactions from INC S.A. on January 25, 2016.

The aforementioned notification is attached to this report.

Current report 3/2016

Attachment

(18/01/2016) Current report no 2/2016 – Purchase of bonds with the right of conversion into shares

Current report 2/2016

Carpathia Capital SA (hereinafter called the “Company”) hereby informs about another capital investment. On January 18, 2016 the Company received information on the allocation of bonds of Moto44 Sp. z o.o. (hereinafter called “Moto44”, the “Issuer”). According to the agreement, the Company acquired 550 (five hundred fifty) bonds with a total nominal value of PLN 550,000 (nominal value of 1 bond is PLN 1,000.00). The purchase price in cash for 550 (five hundred fifty) bonds of Moto44 Sp. z o.o. amounted to PLN 550,000.

The benefits resulting from the bonds include payment of interest in the amount of 7% per annum and the Bondholder right to require payment of the Issuer’s liabilities by converting them into shares representing 13.75% of the share capital of the Issuer. The redemption date was set at December 21, 2016 r.

The parties intend to list shares of a company created through conversion of Moto44 into a joint stock company in the alternative trading system on the NewConnect market in Poland at the turn of 2016 and 2017.

Moto44 Sp. z o.o. operates in the automotive sector in Poland and has been selling and servicing new and used motorcycles since 2013. In 2014, the first complete year of selling motorcycles, the Company reached PLN 4.18M in revenues, operating profit in the amount of PLN 0.20M and net profit of PLN 0.15M. According to the investment agreement in 2015 Moto44 expects to reach revenues of no less than PLN 8.0M, operating profit of no less than PLN 0.47M and net profit of no less than PLN 0.35M. Whereas in 2016 it expects to reach revenues of no less than PLN 12.0M, operating profit of no less than PLN 0.72M and net profit of no less than PLN 0.60M. If Moto44 does not fulfil the above described expectations, the Company will have the right to take up additional shares of the Issuer, regardless of the exercise of the right of conversion.

Moto44 is a dealer for the following brands: TRIUMPH, APRILIA, MV AGUSTA, HUSQVARNA, MOTO GUZZI for which it also provides authorized services. In total the Company has dozens of brands of motorcycles in its commercial offer. Moto44 also sells professional DAINESE motorcycle clothing as well as professional accessories that increase safety of the motorcyclists.

The funds raised through the issue will be used for the purchase of land property with the aim of building a modern showroom offering new and pre-owned motorcycles, along with an extensive service facilities.

Current report 2/2016

(05/01/2016) Current report no 1/2016 – Purchase of bonds with the right of conversion into shares

Current report 1/2016

Carpathia Capital SA (hereinafter called the “Company”) hereby informs about another capital investment. On January 5, 2016 the Company received information on the allocation of bonds of Moto44 Sp. z o.o. (hereinafter called “Moto44”, the “Issuer”). According to the agreement, the Company acquired 500 (five hundred) bonds with a total nominal value of PLN 500,000 (nominal value of 1 bond is PLN 1,000.00). The purchase price in cash for 500 (five hundred) bonds of Moto44 Sp. z o.o. amounted to PLN 500,000.

The benefits resulting from the bonds include payment of interest in the amount of 7% per annum and the Bondholder right to require payment of the Issuer’s liabilities by converting them into shares representing 12.5% of the share capital of the Issuer. The redemption date was set at December 21, 2016 r.

The parties intend to list shares of a company created through conversion of Moto44 into a joint stock company in the alternative trading system on the NewConnect market in Poland at the turn of 2016 and 2017.

Moto44 Sp. z o.o. operates in the automotive sector in Poland and has been selling and servicing new and used motorcycles since 2013. In 2014, the first complete year of selling motorcycles, the Company reached PLN 4.18M in revenues, operating profit in the amount of PLN 0.20M and net profit of PLN 0.15M. According to the investment agreement in 2015 Moto44 expects to reach revenues of no less than PLN 8.0M, operating profit of no less than PLN 0.47M and net profit of no less than PLN 0.35M. Whereas in 2016 it expects to reach revenues of no less than PLN 12.0M, operating profit of no less than PLN 0.72M and net profit of no less than PLN 0.60M. If Moto44 does not fulfil the above described expectations, the Company will have the right to take up additional shares of the Issuer, regardless of the exercise of the right of conversion.

Moto44 is a dealer for the following brands: TRIUMPH, APRILIA, MV AGUSTA, HUSQVARNA, MOTO GUZZI for which it also provides authorized services. In total the Company has dozens of brands of motorcycles in its commercial offer. Moto44 also sells professional DAINESE motorcycle clothing as well as professional accessories that increase safety of the motorcyclists.

The purpose of the issue is increasing the Issuer’s working capital to expand its commercial offer of pre-owned motorcycles. In 2016 Moto44 plans to build a modern showroom for new and pre-owned motorcycles, along with an extensive service facilities.

Current report 1/2016

(13/11/2015) Current report no 9/2015 – Termination of financial forecast

Current report 9/2015

Carpathia Capital S.A. (hereinafter referred to as “the Company”) hereby declares the termination of the financial forecast for 2015 due to limited availability of attractive investment targets in the pipeline for 2015.

According to the financial forecast for 2015 presented in the Information Memorandum, the main assumption behind the forecast was the number of companies (five companies) to be included in the Carpathia Capital’s portfolio.

After thorough assessment of investment projects under evaluation, the Management Board has not come to a decision on provision of capital to any new portfolio company. According to the Board the main reasons for delay in constructing the investment portfolio are differences in approach towards valuation and corporate governance issues.

As of September 30, 2015, Carpathia Capital holds PLN 7 596 thousand as cash and other monetary assets for future deployment.

Current report 9/2015

(15/10/2015) Current report no 8/2015 – Registration of B2, C and D series shares by the Central Depository of Romania

Current report 8/2015

Carpathia Capital S.A. (hereinafter referred to as “the Company”) hereby reports, that the Company received on October 14, 2015 information about registration of series B2, C and D shares by the Central Depository of Romania (Depozitarul Central S.A.) according to Registration Certificate issued by Financial Supervisory Authority of Romania (Autoritatea de Supraveghere Financiară, ASF) on October 7, 2015.

The number of shares registered by the Central Depository increased by a total of 1,782,430 shares of nominal value 0.50 PLN per share, including: 275 000 of series B2 shares, 795 911 of series C shares and 711 439 of series D shares. Current number of shares registered amounts to 2 786 096.

Registration of shares by the Central Depository and Financial Supervisory Authority is a necessary condition for listing on the AeRO market, administered by the Bucharest Stock Exchange.

Current report 8/2015

(15/10/2015) Current report no 7/2015 – The resolutions of the Extraordinary General Shareholders Meeting of 15th October 2015 including the assumed amendments to the Company’s articles of association

Current report 7/2015

Carpathia Capital S.A. (hereinafter referred to as “the Company”) hereby reports the resolutions of the Extraordinary General Meeting held on October 15, 2015 at 9 a.m. at the Company’s registered office in Poznań, Krasińskiego street 16, 60-830 Poznań.

Current report 7/2015 and Resolutions

(21/09/2015) ANNOUNCEMENT OF THE MANAGEMENT BOARD OF CARPATHIA CAPITAL SPÓŁKA AKCYJNA OF THE CONVENING OF THE EXTRAORDINARY GENERAL MEETING

Announcement on convening a Shareholders Meeting

Carpathia Capital Spółka Akcyjna with its registered office in Poznań, Krasińskiego street 16, 60-830 Poznań, registered in the commercial register maintained by the District Court in Poznań – Nowe Miasto i Wilda, VIII Commercial Division of the National Court Register under number KRS 0000511985, (“Company”) is convening the Extraordinary General Meeting of Shareholders on October 15, 2015.

Notification

(07/08/2015) Current report no 6/2015 – Registration of a share capital increase by the Court

Current report 6/2015

Carpathia Capital S.A. (hereinafter referred to as “the Company”) hereby informs about a registration of a share capital increase from PLN 1 537 328,50 to PLN 1 893 048,00 by the Court in the Trade Register. The increase was a result of the issue of 711 439 (seven hundred eleven thousand four hundred thirty nine) series D common shares with nominal value of PLN 0,50 per share.

After the registration the Company’s share capital amounts to PLN 1 893 048,00 (one million eight hundred ninety three thousand fourty eight zlotys) and is composed of:

a) 1 000 000 (one million) series A preferred shares (giving 2 votes per share) with nominal value of PLN 0,50 (fifty groszy) per share,

b) 1 003 666 (one million three thousand six hundred sixty six) series B common shares with nominal value of PLN 0,50 (fifty groszy) per share,

c) 275 000 (two hundred seventy five thousand) series B2 common shares with nominal value of PLN 0,50 (fifty groszy) per share,

d) 795 991 (seven hundred ninety five thousand nine hundred ninety one) series C common shares with nominal value of PLN 0,50 (fifty groszy) per share,

e) 711 439 (seven hundred eleven thousand four hundred thirty nine) series D common shares with nominal value of PLN 0,50 (fifty groszy) per share.

The share capital was fully paid in cash.

The offer of series D shares were closed on May 28th, 2015. The amount of capital raised totaled PLN 2,096m (approx. RON 2,21m), shares were fully paid in cash.

Current report 6/2015

(29/05/2015) ANNOUNCEMENT OF THE MANAGEMENT BOARD OF CARPATHIA CAPITAL SPÓŁKA AKCYJNA OF THE CONVENING OF THE ORDINARY GENERAL MEETING

Announcement on convening a Shareholders Meeting

Carpathia Capital Spółka Akcyjna with its registered office in Poznań, Krasińskiego street 16, 60-830 Poznań, registered in the commercial register maintained by the District Court in Poznań – Nowe Miasto i Wilda, VIII Commercial Division of the National Court Register under number KRS 0000511985, (“Company”) is convening the Ordinary General Meeting of Shareholders on June 30, 2015.

Notification

(20/05/2015) Current report no 4/2015 – Notification of thresholds

Current report 4/2015

According to the art. 228 par. (3) of Law No. 297 of 28 June 2004 regarding the capital market, as amended and supplemented, Carpathia Capital S.A. (hereinafter referred to as “the Company”) hereby informs that on May 20th, 2015 the Company received from the shareholder – INC S.A. an ownership disclosure of changes in holdings of the Company votes below the threshold of 50% resulting from a registration of a share capital increase by the Court in the Trade Register.

The aforementioned ownership disclosure is attached to this report.

Current report 4/2015

Attachment

(20/05/2015) Current report no 3/2015 – Registration of a share capital increase by the Court

Current report 3/2015

Carpathia Capital S.A. (hereinafter referred to as “the Company”) hereby informs about a registration of a share capital increase from PLN 1 001 833,00 to PLN 1 537 328,50 by the Court in the Trade Register. The increase was a result of the issue of 275 000 (two hundred seventy five thousand) series B2 common shares with nominal value of PLN 0,50 per share and the issue of 795 991 (seven hundred ninety five thousand nine hundred ninety one) series C common shares with nominal value of PLN 0,50 per share

After the registration the Company’s share capital amounts to PLN 1 537 328,50 (one million five hundred thirty seven thousand three hundred twenty eight zlotys, fifty groszy) and is composed of:

a) 1 000 000 (one million) series A preferred shares (giving 2 votes per share) with nominal value of PLN 0,50 (fifty groszy) per share,

b) 1 003 666 (one million three thousand six hundred sixty six) series B common shares with nominal value of PLN 0,50 (fifty groszy) per share,

c) 275 000 (two hundred seventy five thousand) series B2 common shares with nominal value of PLN 0,50 (fifty groszy) per share,

d) 795 991 (seven hundred ninety five thousand nine hundred ninety one) series C common shares with nominal value of PLN 0,50 (fifty groszy) per share.

The share capital was fully paid in cash.

The offers of series B2 and series C shares were closed on February 10th, 2015. The amount of capital raised totaled PLN 3,2m (approx. RON 3,4m) and shares were fully paid in cash.

The company is also currently carrying out a private placement offer of up to 1 000 000 (one million) series D common shares.

Current report 3/2015

(20/04/2015) Current report no 2/2015 – Calendar of financial communication

Current report 2/2015

Carpathia Capital S.A. (hereinafter referred to as “the Company”) hereby informs about adoption of financial communication calendar.

The Company will publish periodical reports on the following days:

Annual report for 2014 – April 30th, 2015

Report for 1st quarter of 2015 – May 15th, 2015

Half-year report for first half of 2015 – August 31st, 2015

Report for 3rd quarter of 2015 – November 13th, 2015

The Company plans to conduct an Annual General Shareholders Meeting on June 30th, 2015.

Current report 2/2015

(09/03/2015) Current report no 1/2015 – Signing of a significant contract

Current report 1/2015

Carpathia Capital SA (hereinafter referred to as “the Company”) hereby informs about its first capital investment.

On the March 9th, 2015 the Company signed a sales-purchase contract with SC Bittnet Systems SA headquartered in Bucharest, Romania.

According to the contract the Company purchased 450 439 nominative shares, having a nominal value of RON 0,10 each and a total value of RON 45 043,90, representing 10% of SC Bittnet Systems SA share capital and 10% of the total number of votes at the General Shareholder Meeting.

The purchase price for 450 439 shares of SC Bittnet Systems SA amounted to the total value of EUR 150 000 (approximately RON 665 000), that is EUR 0,33 (approximately RON 1,46) per share, and was fully paid with cash.

SC Bittnet Systems SA was founded in 2007 and since then it operates in Romanian IT sector. Its main activity focuses on IT training, IT consulting and solutions implementation for voice and data communications. SC Bittnet System SA holds a leadership position in Romanian IT training market.

The aim of SC Bittnet Systems SA is to be listed on the AeRO BVB Market for Equities by the end of March, 2015.

Current report 1/2015