45/2022 – Stettlements concluded with PKP PLK S.A.

Trakcja S.A. (the “Issuer”, the “Company”) informs that today, as a result of mediations conducted with the contracting entity, PKP PLK S.A. with its seat in Warsaw (“PKP PLK”) with the participation of the mediator of the Court of Conciliation at the State Treasury Solicitor’s Office of the Republic of Poland concerning the Company’s claims against PKP PLK resulting from pending court proceedings and PKP PLK’s claims against the Company resulting from the development of foundation piles, the Company concluded settlements with PKP PLK.

Under the settlements, all mutual claims between the Company and PKP PLK were settled, according to which:
(a) as a result of the mutual settlements, the Company will receive payment from PKP PLK in the gross amount of PLN 41,750,000;
b) the signed settlements will be subject to approval in pending court proceedings;
c) the Company will receive the aforementioned payment within 8 days of delivery to PKP PLK or its attorney of a court order approving the settlements and discontinuing all court cases covered by the settlements, or from the date of announcement of the order approving the settlements during a public hearing and discontinuing all court cases covered by the settlements.

According to the Company’s estimates, the conclusion of the settlements will have a negative impact on the Company’s and the Group’s financial results in the amount of PLN 0.8 million. The estimated cash inflow to the Company from the settlements, after taking into account the necessary payments, will be PLN 33.9 million.

Legal basis:
Aricle. 17 MAR