Current report no. [26/2016]
Date of drawing-up the report: 03/08/2016
Abbreviated name of issuer: CIECH S.A.
Subject: Suspension of production by a subsidiary of the Issuer
Legal basis: Art. 17 section 1 of MAR - confidential information
Text of the report:
With reference to current report no. 25/2016 of 28.07.2016, the Management Board of CIECH S.A., with a registered office in Warsaw (“the Issuer” or “the Company") announces that, as a result of limitation of deliveries of technological steam to the subsidiary of the Issuer - CIECH Soda Romania S.A. in Romania (“CSR") by the main steam supplier, S.C. CET Govora S.A. in Romania under arrangement bankruptcy (“CET”), CSR, due to technological reasons, has suspended today its production of soda.
CSR will use the forced standstill to perform renovation work and maintenance of equipment.
The Issuer announces that proceedings are pending before the competent court in Romania aimed at determination of termination of the steam supply agreement to be ineffective. Parallel talks are being conducted with court curator of CET, concerning the negotiation of new terms and conditions of the steam supply agreement. The Issued notified of the above actions in report no. 25/2016 of 28.07.2016.
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 Osuchowski – Member of the Management Board
