Ciech

Szukaj
WCAG A A A

Current Report No.: 38/2020

Plan for the division of a subsidiary of the Issuer

Current Report No.: 38/2020

Date of preparation:
 30.12.2020

Abbreviated name of the Issuer: CIECH S.A.

Subject: Plan for the division of a subsidiary of the Issuer

Legal basis: Art. 17.1 of the MAR – inside information

Report: 

In reference to Current Report No. 34/2018 of 5 December 2018, in which CIECH S.A. (the “Issuer” or “Company”) informed on the adoption of the CIECH Group’s Strategy for 2019-2021 (the “Strategy”), and Current Report No. 47/2019 of 25 November 2019, in which the Company advised on the adoption of the CIECH Group’s Reorganisation Concept (the Reorganisation Concept), the Company herewith informs that on 30 December 2020, the Management Board received information on the decision made by direct subsidiaries of the Issuer: CIECH Vitrosilicon S.A. (“CIECH Vitrosilicon”) and CIECH Vitro sp. z o.o. (“CIECH Vitro”), to adopt the plan for the division of CIECH Vitrosilicon (the “Division Plan”). 

As part of the Division Plan, the division of CIECH Vitrosilicon was agreed by separating its Packaging Business Unit (the “Business Unit Packaging”) and moving it to CIECH Vitro. As a result of this division, CIECH Vitrosilicon will become a company operating solely within the framework of the Silicates business unit (the “Business Unit Silicates”), and CIECH Vitro will become a company operating as part of the Business Unit Packaging.

The adoption of the Division Plan is in line with the assumptions of the Reorganisation Concept and aimed at implementing the Strategy in terms of creating an effective and diversified chemical holding generating long-term positive value for shareholders. 

The Division Plan is subject to approval by the General Meeting of Shareholders of CIECH Vitrosilicon and the General Meeting of Shareholders of CIECH Vitro respectively. The exact date of the division (separation) depends on the relevant entries in the Register of Entrepreneurs of the National Court Register (KRS), which is beyond control of the Company and the companies participating in the division.

The Division Plan is available on the following websites: ciechgroup.com/grupa-ciech/spolki-grupy-ciech/ciech-vitrosilicon/ and ciechgroup.com/grupa-ciech/spolki-grupy-ciech/ciech-vitro-sp-z-oo/

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).

 

Signatures of the Company’s representatives:

Dawid Jakubowicz – President of the Management Board

Jarosław Romanowski - Member of the Management Board


Do góry