Price List of Services

Provided by the Prague Securities Centre

(complete wording effective as of 1 August 2009)

The Prague Securities Centre (hereinafter as “SCP”) issues hereby, under § 56, paragraph 8 of the Securities Act № 591/1992 Coll., as amended (hereinafter as “the Securities Act”), and in accordance with § 13 of Act № 526/1990 Coll., on Prices, as amended, an up-dated the Price List of SCP Services № SCP–66637/1601–2003 of 15 December 2003, effective as of 1 August 2009, completed with the decision of the SCP Managing Director Ref. № SCP–11062/S236–2004 of 13 February 2004, Ref. № SCP–18629/S384–2004 of 9 March 2004, Ref. № SCP–48469/S839–2004 of 11 June 2004, Ref. № SCP–51615/S916–2004 of 30 June 2004, Ref. № SCP–15874/S171–2008 of 14 February 2008, Ref. № SCP–39915/S485–2008 of 8 July 2008, № SCP–52666/S649–2008 of 12 September 2008 and decision of the SCP Managing Director № SCP–14752/S564–2009 of 13 July 2009, including the conditions under which the services are being provided.

Bedřich Janáček

Managing Director

1. The SCP services and other activities described in this Price List are provided under the conditions specified in the SCP Operation Rules issued under § 56, paragraph 7, of the Securities Act. In special cases of supplying services and activities under conditions contracted individually (in accordance with Article 2, paragraph 2, of the SCP Operation Rules), the price shall be fixed by agreement, or by a separate decision of the SCP Managing Director.
2. The prices of selected services have been set down in a manner differentiated in the dependence on the way of filing requests for services (Art. 16 of the SCP Operation Rules), i.e., on whether the requests for services have been filed in writing (above all, through the network of SCP Offices, as the basic way of filing requests for SCP services), or in the form of standardized data input items (filed electronically on the basis of a special contract concluded with the SCP under Art. 16 of the SCP Operation Rules; hereinafter as “EDI filing”).
3. In all operations effectuating changes of securities in accounts (e.g., surrender of securities, registration of transfers, etc.), the respective statements of change are provided without any extra charge (except the coverage of postage under clause 4); on the other hand, in case that it is agreed, under § 62, paragraph 2, of the Securities Act that the SCP shall not send the respective statement of change to the holder, as the account holder shall be advised by another subject about the change, this shall not constitute a reason for reducing the price of the service contained in the Price List.
4. The prices stated on the line opposite the individual items in the Price List of Services do not include the coverage of postage if the account statements or other information relating to the result of the processing of requests for service are sent by post. The total price for the service shall be increased by the amount of postage according to the postal rates effective.
5. The prices stated on the line opposite the individual items in the Price List of Services do not include the prices of printed forms and/or the prices of material supplied by the SCP. The information files provided by the SCP are delivered to the applicants for service only on technical data carriers provided by the SCP. The SCP provides data on other data carriers only under a special agreement with the applicant and in accordance with the SCP´s operational possibilities.
6. Prices for SCP single services and other activities supplied upon requests by users shall be paid in cash either while an order for service is being filed (requests for entries in the SCP register) or before the information requested is obtained (requests for information from the SCP register) unless stated otherwise in the Price List of Services or unless agreed otherwise with the user (in particular, if the price coverage is based on invoicing). If the issuer of dematerialized securities is in liquidation or if competition has been declared on his property, the said issuer is obliged, while filing an order for the cancellation of the registration of the issue, or for the termination of entries in the SCP register (e.g., under § 11 of the Securities Act), to pay up the price of all SCP services at the latest by the date preceding the implementation by the SCP.
7. It is not allowed to request any price reduction or refund of amounts already paid if the applicant presented to the SCP a wrong, late, or insufficiently documented request, an instruction that is not feasible at the moment when processed in the SCP central register (§ 25 of the Securities Act), or if the requested result of processing cannot be achieved for other reasons that are not on the SCP side.
8. The prices for services relating to keeping the issuer register and keeping securities in owner accounts are set down for a quarter year, each time for the respective calendar quarter year according to the initial state of the SCP register by the first day of the quarter-year (hereinafter as the “decisive date”). If any changes occur in the course of the quarter-year (e.g., change in the volume of securities on the account, change in the number of issue owners, change in the volume of the issue, launching or cancellation of an issue, etc.), the quarter-year price shall not be changed.
9. The prices for keeping securities in the issuer´s register (item 1.5.) and for keeping securities in owner accounts (item 2.11. — tariffs C and D) shall be paid on the basis of invoices sent by the SCP. In case of change-over from tariff A to tariff B (upon the owner´s request), the quarter-year price for keeping securities in owner accounts shall be paid in single amounts by cash at an SCP Office.
10. The prices for services provided to securities owners, connected with keeping securities in accounts and processed in the form of written filing are differentiated in the form of tariff régimes in dependence on the volume of securities in accounts by the decisive date and according to the type of the owner and the type of the account.
11. In items determining the price for the keeping of a separate part of the SCP register under § 70a of the Securities Act and in case of keeping of the register of open-end mutual fund certificates operated by the issuer, the SCP is entitled to being reimbursed for provable expenses for over-standard activities that are not contained within the respective price-list item.
12. The invoices for SCP services shall be sent to the address of the user’s seat (residence) registered in the SCP, in case of a special account (Article 41, paragraph 5, of the SCP Operation Rules) to the address of the special account administrator. The service user may ask the SCP for sending invoices to another address; the SCP shall comply with such requests according to its operation possibilities.
13. The invoices shall be mature within 14 days following the date of the issuance thereof. The SCP may charge, for each day of delay in payment, late interest at a rate of 0.1 per cent of the amount invoiced until the whole outstanding amount is paid up. In accordance with the respective provision of § 56, paragraph 8, of the Securities Act, the SCP may attach a lien to dematerialized securities kept in the SCP register as a security for its claims for the provided services.
14. For the applicants´ orientation, appropriate codes (currently called “SCP Service Codes”) have been specified at the individual Price-List items in relation to SCP services and other activities that are carried out as standardized technological operations of the SCP central register.
15. The SCP Service and Other Activities Codes are also stated in SCP invoices as the basic identification of the provided SCP services and other activities; code “T” with an explanatory text is usually stated in invoices concerning operations that do not have the character of standardized technological operations of the SCP central register.
16. If the result of the processing of an SCP service or of other activities is submitted to the applicant in the form of data output items, such output item usually includes a preliminary calculation of the price corresponding to the appropriate formula in accordance with the price-list item. Irrespective of such preliminary calculation, the invoiced amounts may be modified in accordance with particular circumstances under which the respective service is being provided.
17. The standard provision of services by electronic way is offered through the Information Portal of the Prague Securities Centre — the Information Service Broker (hereinafter as the „ISB“). The services in the „Public Part“ of the ISB portal are offered to all users free of charge, without the necessity of registration. The services in the „Confidential Part“ of the ISB portal are offered for payment and through secured communication backed up by installed certificates.
18. Information provided by the SCP through its Information Centre can be released to communication media by contract even free of charge in case that the media shall ensure further publication of such information for the general public under the conditions set down by the SCP.
19. In case of a complaint relating to provided services and/or other SCP activities, and in case of an objection raised by an owner or issuer (under § 64 of the Securities Act), it is necessary to pay in advance an amount corresponding to the price for looking up the required information in the SCP register. Such price amounts to at least 500 CZK in case of legal entities, and at least 100 CZK in case of natural persons. In the complaint or objection is justified, the SCP shall return to the applicant the amount that had been paid in advance.

1. Services for Issuers (Keeping of Issuer Register)

2. Keeping of Securities in Owner Accounts, and Services Pertaining to Account Keeping

3. Liens on Dematerialized Securities

4. Suspension of Exercise of Right to Dispose (hereinafter as abbr. in Czech: "PPN") of Securities on Account (§ 27 and § 27a of the Securities Act)

5. Change of Securities Owner

6. Other Services Connected with Dematerialized Securities (except for information from SCP Register)

7. Information from Holder Account

8. Other Information from Dematerialized Securities Register

9. Information Files Provided to the Public by SCP Information Centre

10. Other Information

11. Services of ISB (the Information Portal of the Prague Securities Centre — the Information Service Broker)

The register of dematerialized securities kept by the SCP is not of a public character. Therefore, the services that are connected with the keeping of the said register may be provided only to persons entitled thereto by the Securities Act or another applicable law, or authorized to do so by the appropriate issuer or securities owner (in services connected with the maintenance of the relevant register of issuers or an account of the relevant securities owner).

All those interested shall be provided only such information from the said register as set down by law (e.g., § 87c of the Securities Act concerning owners with a 10 and more percent in an issue of listed dematerialized shares), or general information of statistical character. The aforesaid information designed for the public is provided through the SCP Information Centre (IS SCP in Czech).

Ad Part 1. Services Provided to Issuers

The services connected with the maintenance of the register of dematerialized securities are generally provided on the basis of an agreement signed between the SCP and issuer, which has already been concluded in connection with the establishment of the issuer´s register (price-list item 1.1.), or of making individual changes in the register (issuance of new securities, change in nominal value, cancellation of the existing issue, etc.) in case of issuers with whom a summary contract on the keeping of the issuer’s register was not concluded when the respective register was opened (in particular, issuers of shares from voucher privatization).

Keeping of Issuer´s Register (price-list item 1.5.)
The quarter-year price for the keeping of issuer´s register is a total of quarter-year prices for the keeping of the register of the individual issues in issuer´s register. The quarter-year price is set down in a differentiated way for the individual types of registered securities.

The volume of securities, which makes a basis for the calculation of the price in accordance with price-list item 1.5.1. and 1.5.3., does not contain securities issued by an issuer who:

• is in bankruptcy under Act No. 328/1991 Coll., on Bankruptcy and Settlement, as amended,
• is in liquidation under the respective regulations of the Commercial Code.

• files the request for an extract from the register not later than 21 calendar days prior to the decisive date by which the extract is to be made,
• has stated and proved in the due manner, while filing the request, what kind of exercise of rights linked to the given piece of security the extract is requested for, and given his consent to the publication of the proved information to third persons in respect of the exercise of rights,
• by the decisive date does not have any non-covered financial obligations toward the SCP after the maturity date by the date of filing the request for an extract from the register, or covers such obligations in consequence, yet not later than 12 working days prior to the decisive date by which the extract is to be made,
• disposes of a concluded SCP contract on keeping the issuer register, and duly implements the contract and information duties toward the SCP (this condition shall be applied in case of the requests for an extract from the issuer register filed after 31 March 2004).

The detailed definition of the rules connected with providing extracts from the register for an advantageous price is contained within the conditions related to providing the respective service (printed form for the services concerning extracts from the register).

In the requests for an extract from the issuer register filed prior to 1 January 2004, in respect of which the extract has been made after 1 January 2004, the issuer may implement the conditions for the price advantage consequently, yet not later than 3 working days prior to the decisive date by which the extract is to be made.

A request for possible registration of PPN under § 27a, paragraph 1, letter a), of the Securities Act, should be filed (along with the request for the preparation of extract) at the SCP not later than 21 calendar days in case of listed securities, and 2 working days in case of non-listed securities, prior to the date by which the respective extract is to be prepared. In case of listed securities, the implementation of the request within a shorter term requires the approval by the regulated market where the respective securities are being traded.

The special types of extracts referred to in price-list items 1.10. enable the issuer to acquire better comprehension of the pattern of owners. However, the price shall be calculated (in the same way as in the basic type of extract) out of the total number of accounts of holders of the given securities title since the whole file in question must be checked before the preparation of a list of holders.  

Ad Part 2. Keeping of Securities in Owner Accounts, and Services Pertaining to Account Keeping

To open a securities owner account, it is necessary to present personal documents (identity card, passport), or a proof of legal existence (if the applicant is a legal entity). The basic information under which the accounts are kept is the birth identification number (if the account holder is a natural person) or IČ (business identification number — if the holder is a legal entity). Foreign nationals or mutual funds have their accounts opened on the basis of a supplementary identification number assigned by the SCP, which number shall be used, for the SCP purposes, as a supplementary identification factor in lieu of the birth number or IČ.

If there already exists a holder account kept in the SCP under the given identification number, another account may only be opened through a special service as another account of the same person. Special proceedings are applied in cases of duplicate birth numbers.

Two types of account may be opened for a holder:

• a basic type of account, in which case the holder acts in person with the SCP (he proves his identity with his personal documents — unless an SCP identification card is issued for the account in question — see below),
• special type of account where the holder contacts the SCP each time through the securities dealer who opened the account in the SCP for the respective holder (such dealer being designated as “account administrator” — not to be confused with the administration of securities in account under § 36 of the Securities Act).

• another address for service of correspondence from the SCP, or a request for sending correspondence by ordinary mail (instead of registered mail),
• an administrator of securities kept on the account (under § 36 of the Securities Act, i.e., a securities dealer exercising the holder rights in relation to the issuer),
• persons authorized to receive information on the securities kept on the account.

• for petty investors (tariffs A and B),
• for medium and big investors (tariff C),
• for special accounts (tariff D).

• the securities of the issues in which the Czech National Bank prohibited any transfers under § 91a paragraph 1 of the Securities Act,
• the issues which the SCP excluded from the basis for the calculation of the price of keeping the issuer’s register (see comments to Part 1).

In case the volume of a given SIN in basic and card owner accounts or in a special account makes 75 and more per cent of the volume of the issue of shares registered in securities owner accounts in the SCP, the maximum volume of 600 mln. CZK in the nominal value shall be counted from that SIN for the calculation of parameter O.  

Ad Part 4. Suspension of Exercise of Right to Dispose (PPN)

The services relating to the registration of suspension of the exercise of the right to dispose (PPN) differ as to their contents (by the respective service code) and to their price according to whether the registration is applied for by:

• an owner (special account administrator),
• a state authority,
• a securities dealer or regulated market organizer; such type of registration shall be cancelled (unlike the aforementioned types) not only by the expiration of the term or by an explicit request for cancellation, but also by an order for the registration of transfer filed by the dealer (market) to whose benefit the registration is carried out.

In case of single cancellation through the O49 internal service of records relating to a certain securities dealer (the initial record may be placed only by an SCP worker), the price shall be determined as a product of the number of effected OA3 or O31 services (i.e., depending on whether all records or only records for the Stock Exchange (BCPP) shall be cancelled) and the prices thereof in items 4.2.3. and 4.2.5.

In case of a loss of identity card, the SCP shall suspend, upon request by the securities owner, for the necessary time the exercise of the right to dispose of all the securities on the account (the "blocking" thereof). The request may be filed on a pre-printed "Complaint Sheet" form at any SCP Office. A request for speedy execution (i.e., within 24 hours) may be filed only at the specialized SCP Office, Prague 9, Podvinný mlýn 6.

The applicant shall prove his identity with a valid substitute proof of identity issued by the Police of the Czech Republic.

Ad Part 5. Change of Securities Owner

In case of the registration of a change of securities owner under contract (transfer of securities), both registration orders must be identical, and therefore they are usually filed together on a single printed form at an SCP Office. The legal reasons for the transfer (transfer for a consideration, securities loans, hedging transfer of rights, donation or other free-of-charge transfers, etc.) are differentiated by the respective SCP service codes. The price for the transfer of securities shall be set down to the transferor as well as to the transferee separately, i.e., in accordance with the respective tariff régime assigned to each of them.

As for legal transfers of securities, i.e., in case of the acquisition thereof on a basis other than by a contract, the price shall only be set down to the transferee, which shall be done in accordance with the tariff régime assigned to him. The reason of legal transfer shall be proved by the transferee through the presentation of appropriate documents (e.g., an effective decision on inheritance of securities).

Ad Part 6. Other Services Connected with Dematerialized Securities

Each person that is to be entered into the SCP register must be assigned for that purpose:

• an identification number (birth identification number if a natural person, or IČ if a legal entity, or an SCP-assigned substitute number), ¨
• a registration number corresponding to the respective range of services which such a person may request for.

Owners and issuers shall be registered with the SCP at the time of the opening of their accounts and registers; such registration numbers, however, only serve for the maintenance of holder accounts and issuer registers. For all other purposes, a special SCP registration number has to be assigned. Such number shall be assigned to dealers and markets on the basis of notification by the Czech National Bank of the issuance of the due permit, and to other persons who are to be entered into the SCP register (such as pledgees, persons authorized to obtain information from accounts, cancel PPN registration, etc.) at their own request.

The SCP does not generally provide information about the assigned registration numbers.

A list of services to which a given dealer or another subject communicating with the SCP has the "right of access", i.e., which he can effectively ask for through technological data carriers, may be obtained in the form of an extract made in accordance with price-list item 6.12.

The prices under price-list item 6.14. serve the assessment of the group of services connected with the keeping of the separate part of the SCP register defined in § 70a of the Securities Act.

The prices in the price-list item 6.15 are designed for the services by which the SCP makes it possible for the clients to obtain, through technological means, super-standard access, exactly defined by access rights, to an exactly delimited part of legal register also kept on by the SCP (above all for keeping of the register of issues of dematerialized open-end mutual fund certificates). The price has been designed for the basic level of solution (module of registration — the means for the proper keeping of the register of the respective issue and asset accounts). With the advanced level of the service (i.e., inclusive of commercial module — also includes commercial services), the price for all acts performed by the SCP within the complex of services shall increase.

The prices for the services under the price-list items 6.14., 6.15. and 6.16. are set down each time for the past month while the state by the last day of the past month shall be decisive for the determination of the above amounts.

The prices for the acts requested for special and super-standard regulations of modules in accordance with the wish of the user shall be set down by agreement according to the contents and scope of work requested for.

The prices in the price-list item 6.16. are relating to the services of the special funds which assemble financial means from qualified investors. The special fund may have the form of an investment fund, open-end mutual fund or closed-end mutual fund. The prices in the price-list item 6.16.1 are relating to the services realized through the SCP software (batch, on-line). The prices in the price-list item 6.16.2 are relating to the services realized by the special fund through written filing to the SCP.

Ad Part 7. Information from Holder Account

The SCP searches for account numbers on the basis of birth identification number or IČ at single Offices only for account holders who request for it in person. In case a holder account cannot be identified unambiguously under the data stated (duplicate birth identification numbers, etc.), the problem must be solved at the Complaints Office in Prague.

The prices of information on securities kept in accounts differ in accordance with the amount of work necessary for such information to be processed. The following categories are distinguished:

• the current balance of account (at the moment of processing),
• the statement of account according to the balance registered on the closure of the day preceding the processing date,
• the statement of account according to the balance registered on the closure of the previous day,
• the statement of account on the closure of a certain past day plus entries made after the closure of the given day, but with a retroactive effect (the so-called retroactive entries, as in case of inheritance of securities).

If older data are to be searched for in archived files, the price shall be set for each data item sought (e.g., per a single change on account). In case of requests for more extensive search in the archives, whose exact scope cannot be determined in advance, the SCP may ask for a reasonable down payment.

Ad Part 9. Information Files Provided to the Public by the SCP Information Centre

Besides the standard information services mentioned in this Price-list of Services, the SCP Information Centre also provides information from archived documents of the Voucher Privatization Centre. The appropriate Lending Rules issued by the SCP for those purposes set down the charges for sound, picture, and electronic recordings of such documents.

As for the files that may be subscribed for, a subscription order should be placed at the SCP Information Centre by completing the appropriate form.