Current reports

Current reports

Current reports

Current report no. 35/2014

The opening of the liquidation procedure of the KWE Sp. z o.o. subsidiary


Legal basis:

Art. 56 section 1 point 2 of the Public Offering Act - Current and periodic information


Contents of the report:

Zespół Elektrowni „Pątnów-Adamów-Konin” S.A. (the "Issuer") informs that the Extraordinary Shareholders’ Meeting of the Issuer's indirect subsidiary, KWE Sp. z o.o. with registered office in Kleczew at ul. 600-lecia 9, entered into the Register of Entrepreneurs kept by the District Court in Poznań – Nowe Miasto and Wilda in Poznań, IX Commercial Division of the National Court Register, Company Number (KRS) 0000367061 (the "Company"), on 15 October 2014, adopted a resolution No. 1/2014 on the termination of the Company and opening of its liquidation procedure as of 15 October 2014.


The Issuer informs that pursuant to resolution No. 2/2014 of the Extraordinary Shareholders' Meeting, Mr Marcin Wicherkiewicz was appointed a liquidator of the Company.


KWE Sp. z o.o. was established with the participation of PAK Kopalnia Węgla Brunatnego Konin S.A. in the period preceding the acquisition of the mine's shares by the Issuer. The objective of the Company was realization of the joint venture project. The project consisted in the construction of a wind farm with use of, among others, post-mining areas intended to reclamation. In the annual report of 2013, the Issuer informed that it had intended to withdraw from the project. The reason for this step is changing economic and legal considerations concerning, in particular, the rules of support for renewable energy. According to the Issuer's assessment, these rules contribute to the reduction of economic efficiency of wind farms projects.


As a result of the above, PAK Kopalnia Węgla Brunatnego Konin S.A. decided to withdraw from the implementation of the wind farms construction project initiated in the KWE Sp. z o.o. company.


Legal basis: § 5 section 1 point 24 of the Finance Minister’s Regulation of 19 February 2009 on the Current and Periodic Information Transmitted by Securities Issuers and the Conditions for Recognizing the Information Required by the Regulations of a Non-Member State as Equivalent


Signatures of persons representing the company:

Katarzyna Muszkat – President of the Management Board

Piotr Jarosz – Vice President of the Management Board