The Management Board of the company under the name Polenergia S.A. (the “Issuer”) informs that the project companies MFW Bałtyk II sp. z o.o. and MFW Bałtyk III sp. z o.o. (collectively “Companies”), in which the Issuer holds 50% of shares, developing – as part of a joint venture of the Issuer and Equinor Wind Power AS – projects for the construction of two offshore wind farms, i.e. MFW Bałtyk II and MFW Bałtyk III (collectively “Projects”) signed on May 12, 2024 with CADELER A/S based in Copenhagen (Denmark) (“Supplier”) (each Company separately) reservation agreements for installation vessels and for the performance of preliminary works in the field of preparation for the installation of offshore wind turbines in the Projects (“Reservation Agreements”).
The subject of the Reservation Agreements is the obligation of the parties to continue negotiations in good faith of final agreements for the installation of offshore wind turbines for the Projects (“Final Agreements”), in exchange for the Supplier’s reservation of the availability of installation vessels for the purpose of carrying out wind turbine installation works in accordance with the assumed schedule. The Reservation Agreements also cover the performance of preliminary preparatory works, which will then be covered by Final Agreements, if concluded.
Reservation Agreements may be terminated by the Companies without cause, however, this will result in the obligation to pay a cancellation fee to the Supplier in the amount of EUR 5 million by each of the Companies. The Companies may be charged with similar fees if, for reasons attributable to the Companies, the Final Agreements are not signed by September 1, 2024, subject to the possibility of extending this deadline by the parties.
legal basis: art. 17 section 1 of Regulation (EU) No 596/2014 of the European Parliament and of the Council on market abuse and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (Journal of Laws of the EU L. 2014, No. 173, page 1, as amended)
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