Current report no
:
64/2008
Report date
:
10/9/2008
Abbreviated name
:
Ciech SA
Subject
:
Ciech signed a letter of intent concerning the acquisition of Anwil SA
Legal basis
:
Art. 56, point 1, item 2 of the Public Offering Act – current and periodical information
Report
:
A letter of intent was signed today, concerning the acquisition of counterfoil block of Anwil SA shares. The document has been signed by: Ciech SA, Zakłady Azotowe Kędzierzyn SA (ZAK) and Zakłady Azotowe in Tarnow-Mościce S.A. (Azoty Tarnów).
The letter of intent was signed by the following persons on behalf of the companies:
Ryszard Kunicki – CEO of Ciech SA
Krzysztof Jałosiński – CEO of ZAK SA
Jerzy Marciniak – CEO of Azoty Tarnów S.A.
The approval of PKN Orlen SA, who owns 84.79% of Anwill SA shares is a condition to the sale of this block, required to execute the intentions of the letter’s signatories.
The parties have appointed a Steering Committee, which includes the CEOs of Ciech SA, ZAK SA and Azoty Tarnow S.A. Ryszard Kunicki (CEO) has been appointed the Chairman of the Committee. One of Committee’s tasks will be to create a special purpose company, which will represent the signatories of the letter in the potential acquisition of Anwil SA block of shares from PKN Orlen. 50% of the special purpose company shares will be acquired by Ciech SA and ZAK and Azoty Tarnow will be asigned 25% each. The companies will be responsible for financing the transaction in proportion to their projected portion of shares.
The partners declare that the investment will include between 10 to 20% of own funds. The remainder will be financed externally.
Initial diagnosis indicates a considerable interest in ensuring that the undertaking will receive funding.
Signatures of the Company’s Representatives
:
Ryszard Kunicki – President of the Management Board