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    Jiří Šmejc acquires direct ownership stake in Home Credit and other selected banking assets of PPF Group, which he will also manage

    Amsterdam, 18 May 2012 - PPF Group today announces that Mr. Jiří Šmejc is selling his five percent stake in PPF Group to other current shareholders. Jiri Šmejc will obtain financial compensation and simultaneously will buy direct ownership stakes in several of the Group's other banking assets.

    In phase one of the transaction, Jiří Šmejc will acquire a stake in Home Credit.  In phase two, he will acquire direct stakes in other banking assets of the Group, such as Nomos Bank, Piraeus Bank and Air Bank. Along with his new minority shareholder position in Home Credit, Jiří Šmejc will also assume full management responsibility for Home Credit’s management and business results.

    As a consequence, the new shareholding structure of PPF Group N.V. will be as follows: Petr Kellner 99.21%, Ladislav Bartoníček 0.53% and J.P.Duvieusart 0.26%.

    This change to the ownership structure of PPF, which is based on the market valuation of PPF Group N.V. holding’s assets, will transform Jiří Šmejc’s position from shareholder to business partner. The Group's successful long-term management strategy, which blends full ownership and managerial control of assets and strategic investments by key partners, therefore remains unchanged.

    The founder and majority shareholder of PPF Group, Petr Kellner, commented: “This new shareholding structure has been reached as a mutual decision, and I believe it will provide both PPF and Jiří Šmejc possibilities for achieving further growth. Jiří will be fully responsible for Home Credit, a major Group asset, while at the same time gain more independence, a decision that I respect”.

    Jiří Šmejc added: 'This agreement has been initiated by me and is driven by my desire to try new things. I will be focusing predominantly on Home Credit, however, in the longer-term I will now be able to take an interest in  my own projects that are independent from PPF Group”.

    Jiří Šmejc: Born in 1971; a graduate of the Charles University in Prague, Faculty of Mathematics and Physics with a specialisation in mathematical economics. He started his own investment business in 1992 and became Managing Director and CEO of PUPP Consulting s.r.o. in 1993. In 1995 he worked as Sales Manager for Middle Europe Finance s.r.o., a securities trader focusing on acquisitions. Until the end of 2004 he was a 34.0% owner of TV NOVA Group. He joined PPF Group in 2004 and became a shareholder in 2005. He is responsible for managing the Group’s activities in Russia and has been a Member of the Board of Directors of Generali PPF Holding B.V. since January 2008.

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