Discontinuance of the Project to build a gas-steam block in “Elektrownia Blachownia Nowa” sp. z o.o.

Thursday, 28 July, 2016
27/2016

In reference to regulatory filing no. 38/2013 dated 30 December 2013, on temporary suspension of the project to build a gas-steam block in the company “Elektrownia Blachownia Nowa” sp. z o.o., the Management Board of KGHM Polska Miedź S.A. announces that on 28 July 2016 KGHM Polska Miedź S.A., TAURON Polska Energia S.A. ("TAURON") and TAURON Wytwarzanie S.A. (a subsidiary of TAURON) (hereafter: “Parties”) signed an agreement (“Agreement”). Based on the Agreement, the Parties agreed to discontinue  the project to build a gas-steam block in “Elektrownia Blachownia Nowa” sp. z o. o (“Project”) and to terminate the Shareholders Agreement between KGHM Polska Miedź S.A. and TAURON Wytwarzanie S.A, resulting in an extinguishment of all obligations stipulated in the Shareholders Agreement and termination of all work stipulated in it, in particular those stipulated in the provisional schedule for the realisation of Project, as well as those in subsequent agreements and arrangements. 

KGHM Polska Miedź S.A. and TAURON Wytwarzanie S.A. agreed to liquidate the company “Elektrownia Blachownia Nowa” sp. z o.o. The liquidation will be carried out in accordance with the stipulations of the Company’s Articles of Association and laws in force.

 The Parties will cooperate with each other and with “Elektrownia Blachownia Nowa” sp. z o.o, to ensure the execution of the Agreement. The Parties agreed to terminate their agreement dated 30 December 2013, based on which it was decided to temporarily suspend the realisation of the Project to build a gas-steam block in the company “Elektrownia Blachownia Nowa” sp. z o.o.

Legal basis: Art. 17 (1) of MAR (Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (Official Journal of the European Union dated 12 June 2014, no. L 173/1)

 

 

 

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