TAURON Polska Energia : Current Report No. 21/2018

18.06.2018 14:15

Management Board of TAURON Polska Energia S.A. ('Issuer', 'Company') informs that on June 18, 2018 it received an official copy of the lawsuit filed against the Issuer by:

(i) company under the name of Amon sp. z o.o. with its seat in Łebcz ('Amon'),
(ii) company under the name of Talia sp. z o.o. with its seat in Łebcz ('Talia'). Amon and Talia are members of Polenergia S.A. Capital Group.

The subject of the lawsuit filed by Amon and Talia is the demand against the Issuer to pay damages:

(i) for the benefit of Amon in the amount of PLN 47,556,025.51,
(ii) for the benefit of Talia in the amount of PLN 31,299,182.52,

and the demand to determine the Issuer's liability for the losses that may arise in the future due to tort:

(i) towards Amon in the total amount of PLN 158,262,177.70,
(ii) towards Talia in the total amount of PLN 106,964,520.73.

The basis for the lawsuits, according to the statements presented by Amon and Talia, is due to:

a) Issuer's tort involving entrusting its subsidiary - Polska Energia - Pierwsza Kompania Handlowa in liquidation (winding up) sp. z o.o. with its seat in Warsaw ('PKH') with making purchases, for the needs of the Issuer (and its Capital Group), of electricity and property rights arising from certificates of origin, confirming generation of electricity from renewable energy sources and purchasing property rights arising from certificates of origin, constituting a confirmation of generation of electricity from a renewable energy source (wind farm), under the long term agreements concluded by PKH with Amon and Talia (collectively called 'Long Term Agreements'), and subsequently - in view of a lack of consent to introduce amendments to the Long Term Agreements - putting PKH into liquidation (winding up) and taking, in the course of the liquidation (winding up), of the steps resulting in the termination of the Long Term Agreements;

b) Issuer's tort involving the Company deliberately (consciously) taking advantage of the damage inflicted upon Amon and Talia;
c) tort committed by PKH and persons performing the functions of the liquidators of PKH, carrying out the activities entrusted thereto by the Issuer on the account of the Company, involving the termination of the Long Term Agreements and stopping the purchasing of electricity and property rights from the plaintiffs.

The Issuer disclosed the information on the termination of the Long Term Agreements by PKH in the current report (regulatory filing) no. 7/2015 of March 19, 2015.

The competent court to rule on the lawsuit is the Regional Court in Katowice (Sąd Okręgowy w Katowicach).

The Company, along with its legal representative for the purpose of litigation (attorney at law), proceeded to review the content of the lawsuit and will, at the appropriate time, file a response to the lawsuit.

At the same time the Issuer emphasizes that the completed preliminary assessment of the lawsuit and their justification indicates that the lawsuits filed by Amon and Talia are without merit and completely groundless.

Legal basis: Art. 17 clause 1 of MAR - inside information