With reference to the current report no. 31/2009 dated August 14th, 2009, the Management Board of Ciech SA informs that on November 2nd, 2009 it was informed about the agreement extending the duration of the Contract on maintenance of Status Quo up to December 15th, 2009 signed by a group of 12 banks (Bank BPH S.A., Bank DNB Nord Polska S.A., Bank Handlowy w Warszawie S.A., Bank Millennium S.A., Bank Ochrony Środowiska S.A., Bank Polska Kasa Opieki S.A., BRE Bank S.A., HSBC Bank Polska S.A., ING Bank Śląski S.A., Kredyt Bank S.A., Powszechna Kasa Oszczędności Bank Polski S.A. and Citibank Europe plc. Dublin – Romania Branch – being parties of the Contract for Maintenance of Status Quo). Also other declarations referred to in the Current report no. 31/2009 submitted by Calyon S.A. Branch in Poland, Nordea Bank Polska S.A., BNP Paribas S.A. Branch in Poland and Fortis Bank Polska S.A. were extended up to the said date.
Prior to signing the above documents Ciech SA submitted to the Bank a declaration on extension of validity of the Declaration presented in the Current report no. 31/2009 up to the earlier of: (i) December 16th, 2009, or (ii) termination date of the Contract on Maintenance of Status Quo.
Any and all capitalized terms herein shall have meanings as assigned to them in the Report 31/2009 unless defined otherwise.
The above activities are a part of the process aimed at ensuring stable financing of Ciech Capital Group and maintaining involvement of banks financing the Group. Extension of the Declaration and the Contract on Maintenance of Status Quo enable continuation and completion of works related to establishment of a new financing structure.