Signing of a letter of intent on the sale of shares in the company PGE EJ 1 sp. z o.o.

Thursday, 01 October, 2020
28/2020

The Management Board of KGHM Polska Miedź S.A. (“Company”) announces that on 1 October 2020 the Company signed a letter of intent with the State Treasury represented by the President of the Council of Ministers and acting via the Government Plenipotentiary for Strategic Energy Infrastructure (“State Treasury”) on the acquisition of 100% of shares by the State Treasury in the company PGE EJ 1 sp. z o.o. (“Letter of intent”).

The letter of intent was signed by all shareholders of the company PGE EJ 1 sp. z o.o., which is responsible for the preparation and realisation of the investment involving the construction and operation of the first Polish nuclear power plant. The Company has 10% of shares in PGE EJ1 sp. z o.o.

Signatories to the letter of intent are committed to take, in good faith, all the necessary steps to prepare and conclude a transaction aimed at acquisition by the State Treasury of shares in the company PGE EJ 1 sp. z o.o. (“Transaction”). The intent expressed in the Letter of intent is that the State Treasury shall acquire shares in the company PGE EJ 1 sp. z o.o. up to 31 December 2020, whereas the Parties did not specify the period of validity of the Letter of intent. The Letter of intent does not entail any obligations for the Parties to conclude the Transaction. The decision to conclude the Transaction will be conditional on the results of the negotiations, including the scope and fulfilment of other conditions specified in law in force or corporate documents.

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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