03.09.2014 17:25

​In reference to current report No. 62/2013 dated 31 December 2013 concerning continuation of work on the project of preparation and construction of a nuclear power plant in Poland, the Management Board of TAURON Polska Energia S.A. ("TAURON") informs that on 3 September 2014 TAURON, PGE Polska Grupa Energetyczna S.A. ("PGE"), KGHM Polska Miedź S.A. ("KGHM") and ENEA S.A. ("ENEA") signed Shareholders' Agreement under which TAURON, KGHM and ENEA as Business Partners will purchase from PGE, under a separate agreement, 30% shares in total (each of the Business Partners will purchase 10% shares) in a special purpose vehicle - PGE EJ 1 sp. z o.o. which is responsible for preparation and execution of the investment comprising construction and operation of the first Polish nuclear power plant of approx. 3 000 MWe capacity ("Project"). In line with the assumptions, PGE Group will be the leader of the Project and the company PGE EJ 1 sp. z o.o. will in future be the operator of the plant. The condition to be met before purchase of shares in PGE EJ 1 sp. z o.o. by Business Partners is obtaining permission to concentrate from the President of Customer and Competition Protection Authority. Relevant application has been filed by the parties to the Shareholders' Agreement on 1 August 2014.

Pursuant to the Shareholders' Agreement, the parties undertake jointly, proportionally to the number of shares they hold, to finance the activities falling for years 2014-2016 of the preliminary stage of the Project ("Preliminary Stage"). The purpose of the Preliminary Stage is to define such elements as prospective partners, including strategic partner, technology supplier, EPC (Engineering, Procurement, Construction) contractor, nuclear fuel supplier and obtaining funds for the Project, as well as organizational and competence related preparation of PGE EJ 1 sp. z o.o. to the role of future operator of nuclear power plant responsible for its safe and efficient operation ("Integrated Procedure"). Pursuant to the Shareholders' Agreement, financial involvement of TAURON during the Preliminary Stage should not exceed approx. PLN 107 million and should consist in contribution of funds up to the said amount to increased share capital of PGE EJ 1 sp. z o.o.

Parties to the Shareholders' Agreement estimate that further decisions concerning the Project, including the decision on declaring participation of individual Parties (including TAURON) in further stages of the Project, should be taken after completion of the Preliminary Stage, directly before completion of the Integrated Procedure.

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

distributed by