Current Report No.: 9/2021
The Management Board of Boryszew S.A. based in Warsaw (“Issuer”) announces hereby that on 27 April 2021, SPV Impexmetal Sp. z o.o., a subsidiary company, based in Warsaw (“Seller”) and KGAL ESPF 4 Holding S.à r.l. (“Buyer”) signed an agreement on the sale of 1 000 shares of a nominal value of PLN 50 each, accounting for 100% of the share capital of EW Rywałd Sp. z o.o. based in Toruń (EW Rywałd) for the price of EUR 11 million, of which EUR 9.6 million was paid on the day of concluding the agreement and the balance will be paid in four instalments payable in line with the progress of construction of the wind farm progresses, which should be completed by the end of 2022.
The provisions of the agreement on significant contractual obligations (indemnities) that may be imposed on individual parties (including in particular provision on the occurrence of circumstances that will result in the inability to implement the investment in accordance with the currently estimated budget, schedule and other key assumptions) as well as on assurances made, termination of the agreement or withdrawal from the agreement are not different to conditions generally applied in agreements of this type.
The Buyer is an operator with no organisational or personal relations with Issuer or the Seller.
The Management Board of Issuer announces hereby that the sale of EW Rywałd was carried out as it was possible to obtain an attractive rate of return on transactions involving the assets of EW Rywałd as well as due to the intention to focus the Group’s capital expenditure on projects involving primarily the current segments of the Group’s operations.
Legal attitude: Article 17 section 1 MAR – Confidential information.
Signatures:
Andrzej Juszczynski – Vice President of the Management Board
Mikołaj Budzanowski – Member 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.