On 18 February Elektrobudowa concluded a settlement agreement with the Finnish Trade Union of Electrical Workers. The agreement will end all disputes and proceedings referring to the claim of the trade union related to the workers posted by the Company to perform work at the construction site of the nuclear power plant Olikiluoto 3.
The Management Board of ELEKTROBUDOWA SA announces the dates of publication of the company’s periodic reports in 2020.
On 11 December Elektrobudowa entered into a contract with PGE Energia Ciepła for maintenance work on the LV and MV equipment and power systems and networks in the power plant of PGE Energia Ciepła Branch in Rybnik.
On 10 December 2019 the District Court of Katowice-East in Katowice decided to appoint a provisional court supervisor of Elektrobudowa and imposed an obligation on the temporary court supervisor to prepare and submit a report on the financial standing of Elektrobudowa. The proceedings on declaring Elektrobudowa insolvent were opened at the request of its creditor, Technik Polska sp. z o.o. whose claim against Elektrobudowa is disputable.
Elektrobudowa and Polskie Sieci Elektroenergetyczne have signed the certificate of acceptance of Stage 9 - “project completion”, concerning extension and modernization of the Byczyna electrical station including connection of the 400kV line. Signing of the certificate has ended the performance of the PLN215m project.
On 8 November Elektrobudowa and PKN ORLEN concluded two agreements. One refers to submitting all disputes arising out of performance of the contract for the Metathesis Unit to arbitration. In the other the parties agreed the release, for the benefit of Elektrobudowa, of the amount retained earlier by PKN ORLEN in the total amount of PLN14.6m and €2.9m
On 19-21 November 2019 Lublin will be the venue of the 12th Lublin Fair for ENERGETICS.
The Supervisory Board of Elektrobudowa appointed Jacek Podgórski as President of the Management Board of the Company of the current - tenth - term of office, with effect from 21 October.
Elektrobudowa is continuing the talks with its creditors, aimed at making the agreements with all of its subcontractors and suppliers - regulating the methods and dates of debt payment within the shortest possible time. The round of negotiations covering nearly one third of the Company’s debt has recently been completed
The Management Board have decided to start the series F shares issue process and to withdraw from issuance of series E shares. The capital increase - through issuing series F shares - is an important element of the financial stabilisation process implemented by the Company.
In the Extraordinary General Meeting of ELEKTROBUDOWA held on 23 September the shareholders decided to increase the company share capital through issuing new ordinary shares of series F by private subscription. The EGM also voted through the changes in the composition of the Supervisory Board of Elektrobudowa.