With reference to the declaration of Spółka Restrukturyzacji Kopalń - SRK (Coal Mine Restructuring Company) concerning the suspension of negotiations related to the sales of a part of KWK Brzeszcze assets for an unlimited period of time, provided to the media yesterday (30 September) late in the evening, we express our surprise with this fact, since the intensive negotiations carried out over the recent days (seven rounds of meetings, including those conducted yesterday until late in the evening) and the talks between the management board of TAURON and SRK, carried out on 29 September, in our opinion, reached the stage enabling signing of a preliminary agreement, following entering of RSG into negotiations with the social party. The Management Board of TAURON Polska Energia informed about this fact in the letter addressed to the Minister of Treasury.
According to our assessment, the disruption of the negotiations is incomprehensible as it creates a real threat for signing of the agreement. It is a unilateral decision which was not communicated to us yesterday at the end of the negotiations.
We confirm that we are ready to continue the negotiations in order to finalise the transaction, in accordance with the interests of all parties.
We remind that the offer presented by RSG, a special purpose vehicle established by TAURON Polska Energia, in which, pursuant to the shareholders' agreement, the shares will be taken up by Małopolska Agencja Rozwoju Regionalnego, ZEW Niedzica and, most probably, FTF Columbus, is the proposal based on market reality, prepared on the basis of a comprehensive analysis of KWK Brzeszcze assets conducted over several months, also by external experts, and contains, inter alia, the proposal of real multimillion investments in the plant, which will ensure - following fast achievement of the assumed output level - its long-term operation based on market rules, and guarantee safe jobs to miners. The presence of several business partners – shareholders of RSG – is a warrant of financing of the project at the relevant level as well as disposal of the coal mine products. RSG offer was also prepared based on real restructuring experience gained by TAURON Group in two coal mines: Sobieski in Jaworzno and Janina in Libiąż.
Management Boards of: RSG, TAURON Polska Energia, MARR, ZEW Niedzica
