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Current Report No. 26/2019

25.07.2019 17:30

Ruling of the Regional Court related to Polska Energia - Pierwsza Kompania Handlowa sp. z o.o.

In reference to current report No. 7/2015 of March 19, 2015 on the termination of contracts for purchase of electricity and property rights by a subsidiary, the Management Board of TAURON Polska Energia S.A. (”Issuer”) informs that on July 25, 2019 the Regional Court in Gdańsk (”Court”) issued a partial and preliminary ruling in the lawsuit filed in 2015 against Polska Energia - Pierwsza Kompania Handlowa sp. z o.o. (Issuer’s subsidiary, ”PKH”) by Amon sp. z o.o., in which the Court:

1) determined that PKH’s statements on the termination of long term agreements, concluded between PKH and Amon sp. z o.o., for purchase of electricity and property rights arising from certificates of origin had been ineffective and had not produced legal effects, such as the termination of both agreements, as a result of which these agreements, following the notice period, i.e. past April 30, 2015, shall continue to be in force with respect to all provisions and shall be binding for the parties, and

2) determined that the demand for payment of damages for non-performance of the agreement on the sale of property rights arising from certificates of origin had been justified in principle, however the Court did not determine the amount of the potential damages.

The ruling was issued in the first instance and it is not legally binding. PKH disagrees with the ruling and will request that the Court serve the ruling, including its justification, and will proceed to the analysis thereof in order to file an appeal.

Art. 17, section 1 of the MAR Regulation – inside information
 

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