The Management Board of Polenergia S.A. (‘Company’) hereby announces that on 30th June 2016 the Company was notified that the total net turnover in terms of wholesale electricity trading between the Company’s subsidiary – Polenergia Obrót S.A. (‘Polenergia Obrót’) – and companies belonging to the capital group of ČEZ a.s. (‘CEZ’ and ‘CEZ Group’ respectively), generated from 7th September 2015, i.e. the date of publication of the latest Current Report (No. 35/2015) regarding the total value of transactions between Polenergia Obrót and Grupa CEZ, amounted to net PLN 123 847 289.13. This amount includes both the income of Polenergia Obrót from the sale of electricity to CEZ (net PLN 62 528 595.46 net) and the costs of Polenergia Obrót arising from the purchase of electricity from CEZ (net PLN 61 318 693.66).
Therefore, the total net value of turnover between Polenergia Obrót and CEZ in the specified period exceeded 10% of the Company’s equity.
The turnover between the Company and CEZ Group was generated on the basis of the framework agreement of 20th August 2009 concluded between Polenergia Obrót and CEZ, the description of which is contained in Current Report No. 32/2014 dated 31st December 2014.
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