• No. of the report: 2/2015
  • Report date: 15.04.2015
  • Report legal ground: Art. 56 sec. 5 of the Act on Public Offerings
Contents of the report

In connection with the current report no 41/2014 dated September 3, 2014 on conclusion of the Partner's Agreement in project of preparation and construction of the nuclear power plant and current report no 45/2014 dated October 9, 2014 on approval of the President of the Office of Competition and Consumer Protection for concentration, the Management Board of PGE Polska Grupa Energetyczna S.A. ("PGE", the "Company") discloses that on April 15, 2015 the Company, KGHM Polska Miedź S.A., TAURON Polska Energia S.A. and ENEA S.A. concluded an agreement for the acquisition of shares in PGE EJ 1 sp. z o.o. (the "Agreement") - a special purpose company, which is responsible for preparation and execution of investment of construction and operating of the first nuclear power plant in Poland with a capacity of approx. 3,000 MWe (the "Project"). PGE sold 30% of shares (10% to each of the other parties of the Agreement) in PGE EJ 1 sp. z o.o. and currently holds 70% of shares. The total value of the transaction amounted to PLN 48 million.

In accordance with the Partner's Agreement of September 3, 2014, the parties will jointly finance operations under the initial phase of the Project (the "Initial Phase"), proportionally to their shareholdings. The Initial Phase is to determine such elements as potential partners, including strategic partner, technology providers, EPC contractor (Engineering, Procurement, Construction), a provider of nuclear fuel and obtaining financing for the Project, as well as organizational and competence preparation of PGE EJ 1 sp. z o.o. to the future role of nuclear power plant operator, responsible for its safe and efficient operation (the "Integrated Proceeding").

The parties of the Partners' Agreement anticipate that further decision on the Project, including decision on declaration of further participation of particular parties in the next stage of the Project, will be made after the completion of the Initial Phase, directly before the settlement of the Integrated Proceeding.

Legal basis: Art. 56 sec. 5 of the Act dated July 29, 2005 on Public Offerings and Conditions Governing the Introduction of Financial Instruments to Organised Trading, and on Public Companies (Dziennik Ustaw of 2009 No. 185, item 1439 as amended).

Signatures of persons representing the company
Date Name Position and function
15.04.2015 Jacek Drozd Vice-President of the Management Board
15.04.2015 Magdalena Bartoś Prokurent
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