Warsaw, 16 March 2012 – The District Court for Łódź Śródmieście in Łódź, the 20th Economic Division of the National Court Register, has entered the merger of PGE Górnictwo i Energetyka Konwencjonalna S.A. with PGE Elektrownia Opole S.A. in the National Court Register.
Within the scope of the Consolidation Programme of the PGE Capital Group, on 16 August 2010 the Extraordinary General Meetings of the PGE Capital Group's companies conducting business in the conventional power generation area, including PGE Elektrownia Opole S.A., adopted resolution concerning their respective mergers with PGE Elektrownia Bełchatów S.A. (now PGE Górnictwo i Energetyka Konwencjonalna S.A.) The registration procedure concerning the merger of PGE Elektrownia Opole S.A. with PGE Górnictwo i Energetyka Konwencjonalna S.A. was suspended, while the registration of the mergers of the other companies was finalized when the District Court for Łódź Śródmieście in Łódź, the 20th Economic Division of the National Court Register, issued an order to enter the mergers in the Register.
The suspension of the registration procedure concerning the merger of PGE Górnictwo i Energetyka Konwencjonalna S.A. with PGE Elektrownia Opole S.A. was a form of a security for the claims of the shareholders challenging the validity of the resolutions on the merger adopted by the General Meeting of PGE Elektrownia Opole S.A. However, the Regional Court in Opole as well as the Court of Appeal in Wrocław dismissed all actions for the annulment of the merger resolution. In one case, a minority shareholder submitted a cassation appeal against the decision of the Court of Appeal in Wrocław, which had dismissed its previous appeal.
In consequence of these legal decisions and the resumption of the registration procedure, on 12 March 2012 the District Court for Łódź Śródmieście in Łódź, the 20th Economic Division of the National Court Register, issued an order to enter the merger of PGE Górnictwo i Energetyka Konwencjonalna S.A. with PGE Elektrownia Opole S.A. in the Register.
Contact for the media:
Press Spokesperson PGE Polska Grupa Energetyczna S.A.
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The PGE Capital Group is the largest power company in Poland and one of the largest such companies in Central and Eastern Europe. Because of its size and position, it is a very important link in Poland's energy security system. PGE CG is the undisputed leader with respect to the installed capacities, volume of generated electricity and the number of end users. The PGE Capital Group has a 40% share in Poland's power generation market and a 26% share in the electricity distribution market. 26%. PGE CG's activities are divided into five segments: Conventional Power Generation, Renewable Power Generation, Nuclear Power Generation, Distribution Retail Sales and Wholesale Trade. The Group employs over 46,000 people and boasts 13.1 GW of installed generation capacities. In 2010 the PGE Capital Group's net electricity production reached a net level of 53 TWh. PGE's largest competitive advantage is its presence in almost all links of the value chain in the power generation industry (with the exception of electricity transmission, which is the domain of PSE Operator S.A.). One of the most important rules of the PGE Capital Group is sustainable development.