Kancelaria Publiczna [Public Chambers] Current report 26/2017 Temat: Sale of EDF assets in Poland

Wrocław, 13 November 2017

With reference to content of the current reports no. 25/2017, 14/2017, 13/2017 i 3/2017, the Management Board of the Zespół Elektrociepłowni Wrocławskich KOGENERACJA S.A. ("Company" or "Issuer") hereby discloses that PGE Polska Grupa Energetyczna S.A. ("PGE") published on November 13, 2017, the current report no. 50/2017, in which it notified that:

  • on November 13, 2017 the transaction between PGE and EDF International SAS with EDF Investment II B.V. regarding a sale of EDF assets in Poland according to the Conditional Share Sale Agreement signed on May 19, 2017 (the "Transaction") has been closed;

  • the Transaction value amounted to approximately PLN 4.27 billion;

  • the payment for the EDF assets in Poland as well as the transfer of shares took place on November 13, 2017;

  • in connection with the closing of the Transaction and PGE's indirect acquisition of shares of the Company resulting in crossing the 33% threshold of voting rights in the Company, PGE will be obliged to announce a subsequent tender offer for shares in the Company in number sufficient to reach 66% threshold of voting rights in the Company in accordance with Act on Public Offering, the Conditions Governing the Introduction of Financial Instruments to Organised Trading, and Public Companies dated July 29, 2005 (Journal of Laws of 2016 item 1639, as amended). Cost of the tender is not included in the Transaction value.

In Issuer's Management Board opinion this information constitutes inside information within the meaning of Article 7 Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (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 Text with EEA relevance (MAR).

Legal basis : Article 17 paragraph 1 of MAR.

Zespól Elektrocieplowni Wroclawskich Kogeneracja SA published this content on 13 November 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 13 November 2017 13:13:09 UTC.

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