Current Report No.: 40/2020
Legal basis: Article 17 section 1 MAR – Inside information.
Contents of the report:
Management Board of Boryszew S.A. (“Issuer”), informs that on November 27, 2020 the subsidiary SPV Impexmetal Sp. z o.o. (“SPV”) concluded with RKK Investments Spółka z o.o., a preliminary agreement to acquire 100% of shares in EW Rywałd Spółka z o.o. (“EW Rywałd”), in which the parties undertook to conclude a promised sale agreement for the amount of PLN 38 million by March 31, 2021.
The subject of activity of EW Rywałd is the implementation of a project related to renewable energy. As of today, the company is implementing an investment project related to the construction of a wind farm with a total capacity of 27 MW (EW Rywałd has valid building permits). EW Rywałd has very good wind parameters.
Boryszew Capital Group intends to continue and develop the activities of EW Rywałd. Attached to this current report, the Issuer provides selected operational data to EW Rywałd.
At the same time, the Issuer indicates that the purchase of the EW Rywałd wind farm is in line with the Issuer’s energy strategy aimed at significantly reducing the carbon footprint and diversifying the supply of electricity sources. In conjunction with the planned investments in on-site photovoltaic installations, it will significantly reduce dependence on high wholesale electricity prices on the Polish market, thus reducing the risks associated with increasing electricity prices. The development of industrial energy greening is also in line with the ambitious goals of the European Union’s climate policy and the requirements shaped by the Commission for the energy-intensive industry.
RKK Investments Spółka z o.o. is a subsidiary of Mr. Roman Karkosik and holds directly 49.99% of the Issuer’s shares.
SPV made an advance payment towards the price, and its reimbursement in the event of failure to conclude the final agreement was properly secured.
SPV is entitled to withdraw from the preliminary share purchase agreement in the event of a negative result of the planned due diligence.
Attachment to report 40_2020.pdf
Signatures:
Piotr Lisiecki – President of the Management Board
Translation from the original Polish version.
In the event of differences resulting from the translation, reference should be made to the official Polish version.