Signing of the sales agreement for the shares in the company PGE EJ 1 sp. z o.o. to the State Treasury

Report number
10/2021

In reference to regulatory filing no. 28/2020 dated 1 October 2020,  KGHM Polska Miedź S.A. (“Company”) announces that on 26 March 2021 a sales agreement for 100% of the interest in the share capital of PGE EJ 1 sp. z o.o. (“Agreement”) was signed between shareholders representing 100% of the share capital of PGE EJ 1 sp. z o.o. and the State Treasury represented by the President of the Council of Ministers and acting via the Government Plenipotentiary for Strategic Energy Infrastructure (“State Treasury”).

The Agreement was signed by all shareholders in the company PGE EJ 1 sp. z o.o. – apart from the Company, these are PGE Polska Grupa Energetyczna S.A., Enea S.A. and TAURON Polska Energia S.A. (“Partners”). PGE EJ 1 sp. z o.o. is responsible for preparation and realisation of an investment involving the construction and operation of Poland's first nuclear power plant. The Company had 10% of the shares in PGE EJ 1 sp. z o.o.

The sales price for the shares in the company PGE EJ 1 sp. z o.o. held by KGHM Polska Miedź S.A. was set at PLN 53 136 200, with the provision that following the transaction, it may be adjusted due to the necessity to update the market value of the shares of PGE EJ 1 sp. z o.o. as at the date of signing the Agreement. The updated report from this measurement will be the basis for estimating the final (adjusted) sales price. The payment for shares in the company PGE EJ 1 sp. z o.o. will take place not later than 31 March 2021.

In addition, the Partners and PGE EJ 1 sp. z o.o. signed an annex to the agreement dated 15 April 2015 regarding WorleyParsons, according to which the Partners are proportionally responsible for liabilities or are entitled to claims that may potentially arise as a result of resolution of a dispute with WorleyParsons, up to the level of claims together with accrued interest as at 26 March 2021.   

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)