English Translation

94 expressly that they themselves - independent of our negotiations - were in the interest of Melantrich A.G. in the annulment of the contract. Subsequently, the possibilities of acquiring shares from the existing share capital of 12,000,000.-- K were discussed. The following picture was unrolled: Of the existing 30.0o shares own, as mentioned above, the 3 large shareholders together 7,600 pieces. There is willingness to withdraw from the Bohemian Escompte bank with the measure that they can be bought back later. From associations etc., which have been dissolved and can be dissolved, about 2,400 pieces are to be acquired in a short time, so that for us already now are tangible ......... 5.ooo pieces. It is to be expected that in the near future, a further 2,500 pieces can be acquired by individual shareholders. The Böhmische Escompte bank, together with the 5.O0o shares remaining in the ownership of the 3 large shareholders, would have 10.o00 shares in a short time, and in the near future 12.500 shares. It is intended to conclude a syndicate agreement with the major shareholders, which will initially run for a period of 3 years and under which the large shareholders would be obliged to exercise their voting rights in accordance with our instructions, in agreement with us. Furthermore, the shareholders in the syndicate contract would be bound in a variety of ways. With the 2 joint possessions of 12,500 shares, the majority would have been reached, since only a little more than half of the share capital was represented at the general meetings so far. Patenkon! y In the course of time, the opportunities to buy shares from small shareholders should then be perceived in order to gradually obtain the absolute majority for us. - The -