Ciech

Szukaj
WCAG A A A

Current report No. 24/2016

Termination of an agreement with the subsidiary of the Issuer by the main supplier of steam, and invitation to talks regarding determination of new conditions of technological steam delivery

 

Current report no. 24/2016

Date of drawing-up the report: 06/07/2016

Time of publication: 17:01

Abbreviated name of issuer:  CIECH S.A.

Subject: Termination of an agreement with the subsidiary of the Issuer by the main supplier of steam, and invitation to talks regarding determination of new conditions of technological steam delivery

 

Legal basis: Art. 17 section 1 of MAR - confidential information

 

Text of the report:

The Management Board of CIECH S.A., with a registered office in Warsaw (“the Issuer” or “the Company") announces that today the court curator of S.C. CET Govora S.A. in Romania covered by contractual bankruptcy proceedings (“CET”), acting pursuant to the Romanian law, terminated the agreement with the subsidiary of the Issuer - CIECH Soda Romania S.A. in Romania (“CSR") for sale of heat energy (supply of technological steam) concluded for a specified period of time, effective on 31 July 2016.

At the same time, the court curator of CET invited CSR to talks about determination of new conditions of delivery of technological steam, starting from 1 August 2016.

The CSR company is analysing the effectiveness of the submitted notice of termination from the point of view of the Romanian law. 

The Issuer announced the commencement of the settlement proceedings by CET, the sole supplier of technological steam to CSR, in its current report no. 13/2016 on 9 May 2016.  

Legal basis: Art. 17 section 1 of the Regulation of the European Parliament and Council (EU) no. 596/2014 of 16 April 2014 on market abuse (the Market Abuse Regulation) and revoking Directive 2003/6/EC of the European Parliament and Council and Committee Directives 2003/124/CE, 2003/125/CE and 2004/72/CE (O.  J. EU L No. 173, p. 1) (“MAR”).

 

Signatures of the Company's representatives:
Maciej Tybura – President of the Management Board
Artur Król – Member of the Management Board


Do góry