Decision taken by Cyfrowy Polsat S.A. to establish collateral for the liabilities of Farma Wiatrowa Przyrów sp. z o.o. resulting from the agreement to supply and install specified technical equipment

Date: 
02 Jun 2022

In view of the fact that:

  • Cyfrowy Polsat S.A (the “Company”) is a party to the preliminary agreement, concluded with ZE PAK S.A. with its registered office in Konin (“ZE PAK”), concerning the Company’s purchase of shares in PAK-Polska Czysta Energia sp. z o.o. with its registered office in Konin (“PAK-PCE”) representing 67% of PAK-PCE’s share capital, of which the Company informed in its current report no. 38/2021 dated 20 December 2021;
  • on 4 March 2022, PAK-PCE acquired 100% of shares in the share capital of Farma Wiatrowa Przyrów sp. z o.o. (the “Project Company”) in order to construct and operate an on-shore wind installation in the form of a group of 14 wind turbines within the commune of Przyrów, Częstochowa county, Silesian Voivodeship (the “Investment Project”), of which ZE PAK informed in its current report no. 4/2022 dated 4 March 2022,

the Management Board of the Company hereby informs that on 2 June 2022 it took a decision to grant sureties or guarantees by the Company in order to secure the liabilities of the Project Company towards its suppliers and contractors resulting from agreements concerning the supply and installation of specified technical equipment (the “Guarantees”).

The Guarantees will be established in order to enable the execution of the Investment Project. The amount of the Guarantees shall not exceed EUR 53,000,000 (say: fifty three million euro).

 

Legal basis

Article 17 Section 1 of the 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

Attached files: 
Category: 
Report Number: 
11/2022
Last updated 06/02/2022