Current Report No.: 29/2021
Date of preparation: 05.07.2021
Abbreviated name of the Issuer: CIECH S.A.
Subject: Review of strategic options
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”) Current Report No. 8/2019 of 19 March 2019, in which the Company advised on the initiation of a detailed review of options in terms of changes in the corporate and organisational structure and the structure of assets of the CIECH Group, and Current Report No. 47/2019 of 25 November 2019, in which the Company informed on the adoption of the concept of reorganisation of the CIECH Group, the Company herewith informs that on 5 July 2021, the Management Board of the Company adopted a resolution on the commencement of the review of strategic options supporting the further development of the CIECH Group in relation to CIECH Vitro Sp. z o.o. (“CIECH Vitro”), a subsidiary of the Issuer. CIECH Vitro operates as part of the Packaging Business Unit.
The commencement of the review of strategic options in relation to CIECH Vitro aims at achieving the basic goal under the Strategy, i.e. creating an effective and fully diversified chemical holding company, generating positive long-term value for its shareholders. Building value through the reorganisation of the asset portfolio and focusing on areas of key importance for the operations of the CIECH Group will also contribute to achieving this goal.
In the process of reviewing strategic options, the Management Board of the Issuer works together with a transaction, financial, legal and tax advisor.
At the same time, the Management Board emphasises that to date it has not made any decisions related to the selection of a specific strategic option and it is uncertain whether and when such a decision will be made in the future. The Management Board will publish information on the course of the strategic options review process in compliance with applicable law.
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 individuals representing the company:
