50/2019 – Resignation from the function of the Member of the Management Board

The Management Board of Trakcja PRKiI S.A. (‘Company’, ‘Issuer’) hereby informs that today Mr Marek Kacprzak and Mr Maciej Sobczyk submitted resignation from the function of Member of the Management Board with the effect for the day September 30th, 2019.

In the justification of the resignation statement, Mr. Marek Kacprzak stated:

‘In connection with the completion of the negotiation process with the entities participating in the financial restructuring of the Company, which culminates in the vote today on the resolutions of the Extraordinary General Meeting on capital increase, which is monosemous with the implementation of previously declared common tasks set for members of the Company’s Management Board, I consider the company’s situation stable. Considering the ongoing dispute over several months with a part of the Members of Management Board in the area of ​​management of change and in view of the start of a socio-political career, I resign from the function of a Member of the Management Board of Trakcja PRKiI S.A’

Mr. Maciej Sobczyk, as the reason for resignation, pointed to a divergent vision of the Company’s development with other Management Board Members. In addition, he noted that the resolutions adopted today at the Extraordinary General Meeting, which are completing the stage of financial restructuring, will enable the further operation and development of the Company.

Legal basis:

§ 5 point 4 of the Regulation of the Minister of Finance of 29 March 2018 on current and periodic information published by issuers of securities and conditions for recognizing information required by laws of non-member states (Journal of Laws of 2018, item 757)