Current report no. 37/2018
Date of preparation: 28.12.2018
Abbreviated name of the Issuer: CIECH S.A.
Subject: Extension of the deadline for determining a price formula for the supply of process steam to a subsidiary of the Issuer
Legal basis: Art. 17. 1 of the MAR – inside information
Contents of the report:
In reference to current reports nos. 37/2016 of 18.11.2016 and 30/2018 of 27.11.2018, the Management Board of CIECH S.A. with its registered office in Warsaw (the “Issuer” or the “Company”) hereby informs that on 28.12.2018, a subsidiary of the Issuer - CIECH Soda Romania S.A. based in Romania (“CSR”) entered into an annex (the “Annex”) to an agreement for the supply of process steam (the “Agreement”) with S.C. CET Govora S.A. in composition bankruptcy based in Romania.
Pursuant to the Annex, the Parties extended the deadline for the completion of negotiations related to the determination of the price formula for the supply of process steam in the years 2019-2026 until 31.03.2019. At the same time, the parties agreed that in the event of failure to determine the price formula on or before 31.03.2019, the Agreement would terminate by operation of law as of 01.04.2019.
Furthermore, the parties agreed on the new price of steam for the period until 31.03.2019.
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:
Artur Osuchowski – Member of the Management Board
Mirosław Skowron – Member of the Management Board
