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Current Report No. 6/2020

06.03.2020 19:00

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 March 6, 2020 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 Talia 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 Talia 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 decision was issued in the first instance and is not legally binding. The decision was only justified very briefly verbally. PKH does not agree with the decision in its entirety and is of the opinion that it was completely groundless with respect to the subject matter and issued with a material breach of the procedure, among others due to the fact that the evidentiary proceedings were not conducted to the extent critical for the ability to issue a preliminary and partial decision at all. PKH will forthwith request that the Court serve the decision, including the statement of reasons in writing, and proceed to the analysis thereof in order to file an appeal as soon as possible.

Article 17 section 1 of MAR – inside information.
 

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