Current Report No.: [38/2016]

Date of preparation: 30.11.2016

Abbreviated name of the Issuer: CIECH S.A.

Subject: Non-fulfilment of the condition subsequent for the termination of a significant contract concluded by a subsidiary of the Issuer 

Legal basis: Art. 17. 1 of the MAR – inside information

Contents of the report: 

With reference to current report no. 10/2015 of 13 May 2015 (the “Current Report”), on the conclusion of a contract for the sale of power coal (the “Product”) between CIECH Soda Polska Spółka Akcyjna with its registered office in Inowrocław (the “Subsidiary”) and Polska Grupa Górnicza S.A. based in Katowice (formerly: Kompania Węglowa S.A., the “PGG”) (the “Contract”), the Management Board of CIECH S.A. (the “Issuer”) hereby informs that on 30 November 2016, the Subsidiary agreed, in a written instrument, the commercial terms and the volume of the purchased Product for another year of Contract duration, i.e. 2017. Thus, the condition subsequent for the termination of the Contract has not been fulfilled, as advised by the Issuer in the Current Report. 

The other provisions of the Contract have remained unchanged. 

Legal basis: article 17.1 of the Regulation of the European Parliament and of the Council (EU) No. 596/2014 of 16 April 2014 on Market Abuse (the Market Abuse Regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (Official Journal of the European Union L No. 173, p. 1) (the “MAR”).

 Signatures of persons representing the Company: 

Maciej Tybura  – President of the Management Board

Artur Osuchowski – Member of the Management Board