The Management Board of Polenergia S.A. (‘Issuer’), acting pursuant to Art. 17 (1) of the Regulation (EU) No. 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse and repealing Directive 2003/6/EC of the European Parliament and the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (OJ L 173, 2014, p. 1, as amended, ‘MAR’), hereby announces the reconciliation on 19th December 2018 of the contents of agreements related to the potential sale of 50% of shares of a subsidiary, Polenergia Bałtyk I S.A., to Equinor group.
The above information was considered as confidential by the Issuer within the meaning of the MAR.
In principle, the arranged agreements are based on agreements concluded between the Issuer and Equinor’s subsidiary in regard to MFW Bałtyk II sp. z o.o. and MFW Bałtyk III sp. z o.o. The information on the above-mentioned agreements was published by the Issuer in Current Report No. 4/2018.
On the same day, the Issuer decided to delay revealing of the above-mentioned confidential information, based on Art. 17 (4) of the MAR. In the Issuer’s opinion, a delay in publishing the above-mentioned confidential information was justified by the protection of legitimate interests of the Company, since an immediate disclosure could harm the legally legitimate interests of the Issuer. Furthermore, according to the Issuer, the delay in disclosure did not mislead the public. The Issuer also ensured the confidentiality of this information until it was revealed. Pursuant to Art. 17 (4) section 3 of the MAR, immediately after the publication of this report, the Issuer will notify Komisja Nadzoru Finansowego (Financial Supervision Authority) of the delay in disclosure of the confidential information together with the reasons for such a delay.