Ciech

Szukaj
WCAG A A A

CURRENT REPORTS

Concluding of a settlement agreement with companies of Air Products Group

Current report no : 37/2013
Report date : 12/6/2013
Abbreviated name : Ciech SA
Subject : Concluding of a settlement agreement with companies of Air Products Group
Legal basis : Art. 56 section 1 point 2 of the Act on Offering – current and periodic information

Report 

CIECH S.A. (“Issuer”), on the basis of art. 56 section 1 point 2 of the Act on Offering and on the basis of § 5 section 1 point 3 of the Polish Regulation of the Minister of Finance dated 19 February 2009 on the Current and Periodic Information to be Published by Issuers of Securities and the Conditions for Recognizing as Equivalent Information the Disclosure of Which is Required under the Laws of a Non-Member State, informs that along with Issuer’s subsidiary – Infrastruktura Kapuściska S.A. with its registered seat in Bydgoszcz (formerly: “Zakłady Chemiczne Zachem S.A.” with its registered seat in Bydgoszcz; hereinafter: “IK”) in result of conducted negotiations (which was announced by the Issuer in current report no. 36/2013 of 6th December 2013) concluded on 6th December 2013 with companies of the Air Products Group (i.e. Air Products LLC, Air Products Chemicals Europe B.V. and Air Products and Chemicals INC.; hereinafter collectively as: “Air Products”) a Settlement Agreement (“Settlement Agreement”), the purpose of which is to is to end all disputes that arose between the parties with regard to termination by IK of the contract for the supply of amine (TDA) concluded with Air Products Chemicals Europe B.V. and Air Products LLC (which was announced by the Issuer in current reports no 40/2012 dated 12 October 2012 and no 68/2012 dated 14 December 2012).
In the Settlement Agreement the parties waived their reciprocal claims and decided to terminate pending proceedings, i.e. the proceedings initiated by a complaint of Air Products LLC against Issuer before the Federal District Court for the Easter District of Pennsylvania (Issuer informed on the initiation of this court proceedings in current report no 5/2013 dated 25 January 2013) and arbitration proceedings pending between Air Products Chemicals Europe B.V., Air Products LLC and IK before the Court of Arbitration at the International Chamber of Commerce in Paris (Issuer informed on the initiation of the arbitration proceedings in current report no 2/2013 dated 7 January 2013 and on the filing of the counterclaim by IK Issuer informed in current report no 13/2013 dated 16 March 2013 and no 28/2013 dated 4 July 2013).”
Legal basis: Article 56 section 1 point 2) of the Law of 29 July 2005 on Public Offering, Conditions Governing the Introduction of Financial Instrument to Organized Trading and Public Companies. 


Signatures of the Company’s Representatives : Dariusz Krawczyk – President of the Management Board 


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