The Management Board of Orzeł Biały S.A. with its registered office in Piekary Śląskie (hereinafter: “the Company”, “the Issuer”) informs that today a sales contract between the subsidiary Centralna Pompownia “Bolko” sp. z o.o. (hereinafter:, “CP Bolko”) and Spółka Restrukturyzacji Kopalń S.A. (hereinafter: “SRK”) was concluded. The subject of the sales contract is an organized part of the CP Bolko enterprise. The value of the transaction was PLN 18.825.449,00.
The concluded agreement is the result of, inter alia, the adopted Act amending the Act on subsidies intended for certain entities (Journal of Laws of 29 December 2020, item 2398) (hereinafter: “the Act”, “the Amendment”). Pursuant to the provisions of the Act, from 01.01.2021 Spółka Restrukturyzacji Kopalń S.A. takes over the activities of Centralna Pompownia Bolko sp. z o.o. and enters into all rights and obligations of the subsidiary to the extent necessary to carry out the activities performed after the completion of the liquidation of the mining plant belonging to the former ZGH “Orzeł Biały” in Bytom. Pursuant to the provisions of the Act, SRK was also obliged to purchase assets owned by CP Bolko by way of purchase.
This transaction terminates the activities the Issuer informed of in the periodic reports, including the Consolidated Report of the Orzeł Biały Capital Group for the third quarter of 2020.
In connection with the above, the Issuer, together with Pumech sp. z o.o. (an entity directly dominating CP Bolko) will analyze possible strategic options related to the further activities of the subsidiary, including the legitimacy of the further operation of the enterprise and possible opportunities of its development or liquidation along with the acquisition of the remaining assets by other companies of the Issuer’s Capital Group.
Legal basis: Art. 17 Para. 1 MAR – Insider information