Suspension of enforceability of the Court's order to secure the claim


13.12.2023 14:38

Article 17(1) MAR.

Contents of the report

The Management Board of Zespół Elektrociepłowni Wrocławskich KOGENERACJA S.A. (“the Company") hereby informs that on December 13, 2023, it received the order of December 1, 2023 of the District Court in Wrocław, 10th Commercial Division. The order concerns the suspension of the enforcement of the order of September 20, 2023 on granting security for the claim regarding the motion of Polimex Mostostal S.A., representing the consortium consisting of: Polimex Mostostal S.A. and Polimex Energetyka Sp. z o. o. ("Polimex") - about which the Company informed in current report 16/2023 - until the complaint against this order is resolved. Therefore, the request of KOGENERACJA S.A. of November 9, 2023 was granted. The order to suspend enforcement was covered by the immediate enforceability clause.

Pursuant to the content of the order on granting security of September 20, 2023, until the final conclusion of the court proceedings - regarding the change in the amount of the contractual remuneration - half of the value of the net security, i.e. the amount of PLN 171,965,431.40, was to increase the current value of payments under investment obligations indicated in the motion.

Pursuant to the order of December 1, 2023 - until the complaint against the order on granting security is considered - KOGENERACJA S.A. will make payments in accordance with the amounts provided for in the contract, prior to the changes made with the security granted to Polimex.

To amicably resolve the dispute that has arisen over the increase in contractual remuneration, a mediation procedure is taking place simultaneously in the Arbitration Court at the General Prosecutor's Office of the Republic of Poland with the participation of an independent mediator. The Company's intention is to complete the mediation in the first quarter of 2024.

Signatures of persons representing the company

Date Name Position and function
2023-12-13 Dominik Wadecki President of the Management Board
2023-12-13 Krzysztof Kryg Vice-President of the Management Board