Current Report No.: 23/2019

Date of preparation: 18.06.2019

Abbreviated name of the Issuer: CIECH S.A.

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

Subject: Information on the termination of the agreement for the supply of process steam to a subsidiary of the Issuer, and invitation to discussions related to the determination of the new terms and conditions for the supply of process steam

Contents of the Report:

The Management Board of CIECH S.A. with its registered office in Warsaw (the “Issuer” or “Company”),  in reference to current report no. 11/2019 of 01.04.2019, herewith informs that today a subsidiary of the Issuer - CIECH Soda Romania S.A. based in Romania (“CSR”) received a fax with a notice of termination of the agreement for the supply of process steam (the “Agreement”) with S.C. CET Govora S.A. in composition bankruptcy based in Romania (“CET”). The notice period is three months. 

The reason for termination of the Agreement is the inability of CET to deliver process steam on the terms specified in the Agreement, which in CSR's assessment is related to the accident which occurred in the CET coal mine.

At the same time, in its letter, CET emphasised its willingness to continue cooperation with CSR and invited CSR to immediately commence discussions related to the determination of the new terms and conditions for the supply of process steam that will apply after the notice period. 

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 the persons representing the Company:

Dawid Jakubowicz – President of the Management Board

Artur Osuchowski – Member of the Management Board