The Management Board of Ciech S.A. (“Issuer”, “Ciech”) informs that on June 24th, 2010 Ciech entered into a conditional sales contract for all shares in Ciech-Service Sp. z o.o. seated in Warsaw (“Ciech-Service”, “Company”) with Sotronic Sp. z o.o. seated in Balice, ul. Przemysłowa 25 (postal code 32-083), entered in the Register of Businesses maintained by the District Court for Kraków-Śródmieście in Kraków, 11th Commercial Division of the National Court Register under KRS number 0000164771 (“Purchaser”).
The basic object of Ciech-Service Sp. z o.o. includes provision of services involving property protection and maintenance of cleanliness. The main customers of Ciech-Service Sp. z o.o. include entities of the Ciech Group.
The agreement has been concluded provided that:
- Ciech-Service is released from any and all securities established in connection with the loan agreement referred to in current report no. 16/2010 dated April 26th, 2010 within 120 days as of the execution of the sales contract for shares in Ciech-Service;
- Ciech-Service and companies of the Ciech Group conclude annexes to service contracts pursuant to which the said contracts may be terminated with the period of notice specified in the relevant contract; however, the sad period of notice may not expire prior to the 5th anniversary of the transfer of ownership of the shares in the Company onto the Purchaser.
The total price of the shares accounts for PLN 3,102,000.00 (three million one hundred and two thousand zloty). The payment will be made within 10 days as of the Issuer’s declaration on satisfaction of the terms and conditions of the contract. The sale of Ciech - Service is a part of reorganisation of the Ciech Group, which began in 2009.