15.05.2015 13:10

​In reference to current report No. 2/2015 the Management Board of TAURON Polska Energia S.A. ("TAURON") informs that on 15 May 2015 TAURON and Spółka Restrukturyzacji Kopalń S.A. (Mines Restructuring Company) ("SRK") (jointly "Parties") signed Letter of Intent concerning the intention of the Parties to start cooperation on possible purchase of KWK Brzeszcze mine assets.

In line with the provisions of the Letter of Intent, the Parties expressed their intention to start works the purpose of which would be to define the assets of KWK Brzeszcze that would be the subject of possible purchase by TAURON ("Assets") and then possible legal and actual steps the purpose of which would be to prepare and execute the transaction of Assets purchase. It should be emphasized that TAURON is interested in purchase only of those assets that could be used as a basis for development of a new mine capable of running profitable and effective business in the scope of hard coal mining and methane from deposits. The Parties declared also that they would start close cooperation concerning operations of KWK Brzeszcze in the transition period, i.e. after transferring the mine to SRK, and before possible purchase of KWK Brzeszcze by TAURON.

The final decision regarding purchase of the Assets by TAURON and the conditions of possible transaction will be taken after detailed legal, financial, fiscal, accounting, technical, environmental and geological analyses of KWK Brzeszcze have been completed. An indispensable condition for TAURON to purchase the Assets is restructuring of KWK Brzeszcze by SRK.

The Letter of Intent has been signed for a definite period until 31 December 2015 which may be extended.

Article 56 section 5 of the Public Offering Act - update of price-sensitive information

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