Article 56 section 1 item 2 of the Public Offering Act – current and periodic information

 

The Management Board of TAURON Polska Energia S.A. (“Issuer”) informs that on 5 January 2012 they received information from Polskie Sieci Elektroenergetyczne Operator S.A. (PSE Operator) concerning transmission services provided by PSE Operator for TAURON Group companies that enabled clearing of transactions with PSE Operator for December 2011. Net value of turnover between TAURON Group companies and PSE Operator during the past 12 months amounted to approx. PLN 1,758 billion (including PLN 1,508 billion costs for the TAURON Group and PLN 250 income). Thus, turnover value exceeded the material amount (i.e. 10% Issuer’s equity). The highest turnover (i.e. approx PLN 636.6 million net) was generated under agreement dated 15 January 2008 concluded between Enion S.A. (now TAURON Dystrybucja S.A.) and PSE Operator, which was described in detail by the Issuer in item 14.2 of the Prospectus drafted in connection with the initial public offering of the Issuer (“Agreement”). The subject of the Agreement is provision by PSE Operator of transmission services  understood as transport of electricity through transmission grid. The Agreement was concluded for an undefined period. Estimated value of the Agreement over 5 years from its conclusion is approx. PLN 3 billion. The services are cleared in line with the terms and conditions and charges approved by the President of the Energy Regulatory Office defined in the tariff and in accordance with the provisions of Instruction for Transmission System Operation and Maintenance (IRiESP). The Agreement does not include liquidated damages. The Agreement does not include conditions precedent or subsequent.  

 

§ 5 section 1 items 3 and § 9 of the Decree of the Ministry of Finance dated 19 February 2009 regarding current and periodic information disclosed by issuers of securities (…)