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Current Report No. 24/2017 of 24 August 2017 (h -16:32) – PKP CARGO’s information on the position of its subsidiary AWT in connection with OKD’s declaration of insolvency – update

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Legal basic (selected in ESPI):

Article 17 Section 1 of MAR – confidential information

 

In reference to Current Report No. 27/2016 of 5 May 2016 and Current Report No. 48/2016 of 12 August 2016 and Current Report No. 8/2017 of 11 April 2017, the Management Board of PKP CARGO S.A. (“Company”, “Issuer”) hereby reports that on 24 August 2017 it obtained information from its subsidiary Advanced World Transport a.s. (“AWT”) that on 24 August 2017 the Meeting of Creditors of OKD a.s. (“OKD”, a company established under Czech law, a business partner of the Issuer’s subsidiaries AWT and AWT Rekultivace a.s. („AWTR”)) adopted the restructuring plan for OKD (“Plan”). 

 

During the Meeting of Creditors, the representatives of AWT and AWTR voted for adopting the Plan. 

 

Adoption of the Plan opens the possibility of  further cooperation between the AWT Group and OKD, among others in respect to the provision of transport services and reclamation work. The restructuring process will prevent OKD’s bankruptcy, provided that the previous activity of OKD is phased out gradually. 

 

The Plan will be subject to approval by the Regional Court in Ostrava, which the Company will announce in a separate Current Report

 

Legal basic:

Article 17 Section 1 of Regulation (EU) No. 596/2014 of the European Parliament and of the Council on Market Abuse. 

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