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Information about resolution on liquidation of a subsidiary

  • No. of the report: 14/2011
  • Report date: 17.03.2011
  • Report legal ground: Art. 56 section 1 p. 2 of Act on Public Offering – current and periodic information

Contents of the report

The Management Board of PGE Polska Grupa Energetyczna S.A. (“PGE”) advises that it has received information that on March 14, 2011 the Meeting of Shareholders of „ESP Usługi” Sp. z o.o. with its registered office in Warsaw (the „Subsidiary”) decided to dissolve and liquidate the Subsidiary. Mr. Tadeusz Gruca became a liquidator.

The Subsidiary is PGE's dependent entity under the accounting regulations binding on PGE and the Subsidiary is consolidated in the PGE’s financial statements. The shareholder of the Subsidiary is PGE Energia Odnawialna S.A., which is subsidiary of PGE (PGE Energia Odnawialna S.A., as the only shareholder, has 100% of Subsidiary's shares and 100% of the total votes).

Legal ground: § 5 section 1 p. 24 and § 30 p. 18 of the Regulation of the Polish Minister of Finance of February 19, 2009 on current and periodic information published by issuers of securities and on conditions under which such information may be recognized as being equivalent to information required by the regulations of law of a state which is not a member state. (Dziennik Ustaw of 2009 No. 33, item 259 as amended).