Current report no : 28/2013
Report date : 7/4/2013
Abbreviated name : CIECH
Subject : Complement the counterclaim of the subsidiary of the Issuer in arbitration proceedings
Legal basis : Art. 56 section 5 of the Polish Act on Public Offering – actualization of the information
Report :
CIECH S.A. (“Issuer”), with reference to the current report no 2/2013 of January 7, 2013 on the initiation of arbitration proceedings by Air Products Chemical Europe B.V. and Air Products, LLC (“Air Products”) against the subsidiary of the Issuer, Zakłady Chemiczne Zachem S.A. with its registered seat in Bydgoszcz (“Zachem”), and to the current report no 13/2013 of March 16, 2013 on the answer to the statement of claim and counterclaim of the subsidiary of the Issuer in arbitration proceedings, informs that it learned about the fact that on July 3, 2013 counsels for Zachem amended the counterclaim of Zachem against Air Products in arbitration proceedings, by indicating the value of compensation claims, with the result that, at present, Zachem claims from Air Products to pay compensation for damage caused by a breach of contract by Air Products supplies of amine (TDA) signed between Air Products and Zachem ("Contract") in an amount not lower than PLN 161,647,474.00, and the final amount will be determined in the course of arbitration proceedings.
In the remainder of the counterclaim has not been changed.
Due to the fact that - in the opinion of the Issuer - Zachem rightfully terminated the Contract because of its obvious breach thereof by Air Products, and the position taken by Air Products does not find its basis in facts and law, the Issuer maintains its position presented in the current report no 13/2013 of on 16 March 2013.
Signatures of the Company’s Representatives : Dariusz Krawczyk – President of the Management Board
