PGE will not appeal against Court of Competition and Consumer Protection verdict regarding concentration with Energa
27/2012
05.06.2012 16:45
Art. 56 section 1 p. 1 of Act on Public Offering – confidential information
Contents of the report
The Management Board of the PGE Polska Grupa Energetyczna S.A. discloses that on June 5, 2012 decided not to appeal against Court of Competition and Consumer Protection (“CCCP”) – Regional Court in Warsaw verdict, dated May 14, 2012 regarding concentration understood as PGE purchase of Energa S.A. shares(“Concentration”).
CCCP verdict from May 14, 2012 dismissed PGE’s appeal against the decision of the President of the Energy Regulatory Office prohibiting Concentration. PGE informed about the verdict in current report no. 17/2012.
Lack of PGE’s appeal will validate CCCP verdict as of June 12, 2012. Therefore, decision of the President of the Energy Regulatory Office dated January 14, 2011 prohibiting concentration will become final and valid. PGE informed about the ERO decision in current report no. 4/2011. Owing to circumstances beyond PGE control aforementioned will result in termination of the agreement between the State Treasury and PGE regarding purchase of 84.19% shares of Energa S.A., dated September 29, 2010. PGE informed about this agreement in current report no. 61/2010.
CCCP verdict from May 14, 2012 dismissed PGE’s appeal against the decision of the President of the Energy Regulatory Office prohibiting Concentration. PGE informed about the verdict in current report no. 17/2012.
Lack of PGE’s appeal will validate CCCP verdict as of June 12, 2012. Therefore, decision of the President of the Energy Regulatory Office dated January 14, 2011 prohibiting concentration will become final and valid. PGE informed about the ERO decision in current report no. 4/2011. Owing to circumstances beyond PGE control aforementioned will result in termination of the agreement between the State Treasury and PGE regarding purchase of 84.19% shares of Energa S.A., dated September 29, 2010. PGE informed about this agreement in current report no. 61/2010.
Signatures of persons representing the company
Date | Name | Position and function |
---|---|---|
2012-06-05 18:45:06 | Krzysztof Kilian | President of the Management Board |
2012-06-05 18:45:06 | Wojciech Ostrowski | Vice-President of the Management Board |