TAURON Polska Energia : Current Report No. 22/2018

29.06.2018 14:30

Management Board of TAURON Polska Energia S.A. ('Issuer', 'Company') informs that on June 29, 2018 it received an official copy of the lawsuit filed against the Issuer by in.ventus sp. z o.o. Mogilno I sp. k. in Wrocław ('Plaintiff') for:
a) payment by the Issuer, as damages, for the benefit of the Plaintiff, of the amount of EUR 12 286 229,70 (i.e. PLN 53 587 619,46 at the NBP's average exchange rate of June 29, 2018),
b) determining liability for damages that may arise in the future, due to tort, with the total value estimated to be worth EUR 35 705 848,71 (i.e. PLN 155 734 629,73 at the NBP's average exchange rate of June 29, 2018).

Under the lawsuit the Plaintiff is asserting its own claims, as well as those taken over by the Plaintiff by way of liability transfer agreements from: in.ventus sp. z o.o. Mogilno II sp. k., in.ventus sp. z o.o. Mogilno III sp. k., in.ventus sp. z o.o. Mogilno IV sp. k., in.ventus sp. z o.o. Mogilno V sp. k., in.ventus sp. z o.o. Mogilno VI sp. k.

The basis for the lawsuits, according to the statements presented by the Plaintiff, is due to Issuer's tort, involving in particular:
a) entrusting its subsidiary - Polska Energia - Pierwsza Kompania Handlowa ('PKH') with making purchases, under the long term agreements, 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 ('Long Term Agreements'),
b) inducing (urging) PKH and persons performing the functions of its liquidators of PKH to terminate and not perform the Long Term Agreements,
c) deliberately (consciously) taking advantage by the Issuer of the damage inflicted as a result of terminating the Long Term Agreements.

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 preliminary assessment of the lawsuit and its justification indicates that the claims asserted are without merit and completely groundless.

Legal basis: Art. 17.1 of MAR - inside information.