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Recovery proceeding initiated with respect to a subsidiary company of PGE Dystrybucja S.A.

  • No. of the report: 44/2012
  • Report date: 01.08.2012
  • 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") discloses that on July 27, 2012 recovery proceeding was initiated under supervision of the District Court in Białystok - 8th Commecial Division with respect to PPH EKTO Sp. z o.o. with its registered office in Białystok (the "Subsidiary").

The Subsidiary is PGE's dependent entity under the accounting regulations obeyed by PGE, and is consolidated in the PGE's financial statements. The sole shareholder of the Subsidiary is PGE Dystrybucja S.A., which is a subsidiary of PGE. As at March 31, 2012 the balance sheet total of the Subsidiary amounted to approximately PLN 12.1 million.

Legal ground: § 5 section 1 p. 24 and § 30 p. 12 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).