Current report no : 50/2012
Report date : 11/2/2012
Abbreviated name : Ciech SA
Subject : Submission of the Final Report of the Buyer and finalisation of a significant agreement of the Issuer
Legal basis : Article 56 section 1 item 2 of the Act on the Offering – current and interim information
Report :
The Management Board of Ciech SA [Issuer] reports that the "Final Report of the Buyer for the period between December 20th, 2006 and October 31st, 2012 on the performance of obligations under the Agreement for the sale of shares of Zakłady Chemiczne Zachem SA" of March 29th, 2006 [Privatisation Agreement], on the conclusion of which the Issuer reported in current report no. 27/2006, was submitted on November 2nd, 2012. The Final Report of the Buyer in the scope of the performance of financial obligations was drawn up for the period between December 20th, 2006 and June 30th, 2012, while in the scope of other obligations arising from the Privatisation Agreement for the period between December 20th, 2006 and October 31st, 2012, i.e. as of the last day of the month during which the last obligation under the Privatisation Agreement was performed. Together with the Final Report of the Buyer, a report of the certified auditor was submitted in which the auditor verified the compliance of the statements made in the Final Report of the Buyer with facts in terms of the criteria resulting from the Privatisation Agreement. Submission of the Final Report of the Buyer is equivalent to finalising the Privatisation Agreement. The Seller is authorised to audit the Final Report of the Buyer during 3 months from its delivery. If it is found during an audit that the Buyer breached its obligations under the Privatisation Agreement, the Seller shall have the right to claim contractual penalties stipulated in the Agreement. Finalisation of the Privatisation Agreement means, at the same time, that it is no longer necessary to obtain a consent of the State Treasury, represented by the Minister of Treasury, to close the transaction carried out under the Agreement for Sale and Transfer of TDI Assets, on the conclusion of which the Issuer reported in current report no. 41 of October 12th, 2012. A consent of the State Treasury was specified in the Agreement for Sale and Transfer of TDI Assets as one of conditions precedent of the transaction due to the requirement formulated by the provisions of the Privatisation Agreement.
Signatures of the Company's representatives : Andrzej Kopeć – Member of the Management Board
Signatures of the Company’s Representatives : Artur Osuchowski – Member of the Management Board
