Grupa Azoty Zaklady Azotowe Pulawy : Current Report No. 14/2017 Decisions concerning PUŁAWY Power Plant

Decisions concerning PUŁAWY Power Plant

Legal basis: Art. 17.1 of MAR - Inside information

Text of the report: Further to Current Report No. 21/2015 of May 25th 2015, the Management Board of Grupa Azoty Zakłady Azotowe Puławy S.A. ('Grupa Azoty PUŁAWY' or the 'Company') announces that on March 31st 2017 Elektrownia Puławy Sp. z o.o. (Grupa Azoty PUŁAWY's subsidiary), conducting the tender procedure for selection of the general contractor for the 'Construction of a 400 MWe CCGT unit' project, resolved not to select any bid and to close the procedure. In accordance with resolutions of the Management and Supervisory Boards of Grupa Azoty PUŁAWY of March 31st 2017, the project providing for the construction of a CCGT unit will be discontinued.

On the same day, the Company's Supervisory Board gave the Management Board a general authorisation to take steps connected with the preparation of an investment project that would provide for the construction of a hard coal-fired generating unit, including in particular conceptual and analytical work, followed by development of the Terms of Reference (documentation for the purposes of the contractor selection procedure). Such unit, tailored to the Company's needs, would secure electricity and heat supplies to Grupa Azoty PUŁAWY.

Legal basis: Article 17(1) of 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 (OJ EU of June 12th 2014, No. L 173/1, as amended).