Polskie Górnictwo Naftowe i Gazownictwo S.A.

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PLPGNIG00014

PGNiG : Current Report No. 25/2017

March 29, 2017 at 01:25 pm EDT

2017.03.29 19:01 Current Report No. 25/2017

Warsaw, March 29th 2017
Decision on the recapitalization of Polska Grupa Górnicza Sp. z o.o.
Current Report No. 25/2017
The Management Board of Polskie Górnictwo Naftowe i Gazownictwo SA ('PGNiG') informs, that on March 29th 2017 has agreed for PGNiG TERMIKA S.A., a subsidiary of PGNiG, to acquire additional shares in capital of Polska Grupa Górnicza Sp. z o.o. ('PGG') of total nominal value of PLN 300,000,000 (three hundred million złoty).
Recapitalization of PGG by PGNiG TERMIKA S.A. should be made in tranches and be considered as one of the sources of financing for planned purchase of Katowicki Holding Węglowy S.A.'s assets by PGG.
PGNiG will inform in a separate current report on signing of an investment agreement.

PGNiG - Polish Oil & Gas Company published this content on 29 March 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 29 March 2017 17:25:04 UTC.

Original documenthttp://en.pgnig.pl/investor-relations/reports/current-reports/-/reports/details/current-report-no-25-2017?_currentreportssearcherportlet_WAR_raportlistportlet_year=2017&_currentreportssearcherportlet_WAR_raportlistportlet_articleId=1765135

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Polskie Górnictwo Naftowe i Gazownictwo S.A. is the leading Polish produce of natural gas. Net sales break down by activity as follows: - trading and storage of natural gas (77.1%); - distribution of natural gas (10.7%); - exploration and production of hydrocarbons (8%); - production of electricity and heating (3.8%); - other (0.4%). Poland accounts for 85.5% of net sales.

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