Report No. 4/2022 - Consent of the Supervisory Board of Stalexport Autostrady Małopolska S.A. to the conclusion of Annex to the Concession Agreement

The Management Board of Stalexport Autostrady S.A. with its registered office in Mysłowice (hereinafter: “Stalexport Autostrady S.A.” or “Issuer”) informs you that on 2 February 2022 it was informed by Stalexport Autostrada Małopolska S.A. with its registered office in Mysłowice (hereinafter referred to as:  “SAM S.A.” or “Concessionaire”) about the fact that on 2 February 2022 the Supervisory Board of SAM S.A. adopted a resolution on its consent to amending the Concession Agreement of 19 September 1997 for the construction by way of adaptation of the A4 motorway in the section: Katowice (Murckowska junction, km 340.2) - Kraków (Balice junction, km 401.1) with a length of 60.9 km, to Toll Motorway requirements and operation of the motorway in that section, as amended by Annex 1, Annex 2, Annex 3, Annex 4, Annex 5, and Annex 6), hereinafter referred to as the “Concession Agreement”, to which SAM S.A. and the Minister of Infrastructure are parties, by signing Annex 7 to the Concession Agreement (hereinafter referred to as the “Annex”).

The draft Annex, in the wording submitted to the Supervisory Board of SAM S.A. for approval, assumes, among others, a change in the scope of the remaining construction works and the waiver by SAM S.A. of claims against the State Treasury for strengthening the M48 viaduct support in the amount of approx. PLN 13 million (net).

According to the estimates of the Management Board of SAM S.A., as a result of the change related to the remaining construction works their costs will be reduced by approx. PLN 78 million (net). 

The draft Annex provides that the allocation of savings that may result from the change in the scope of the remaining construction works will be performed in accordance with the Cash Flow Mechanism, of which the Issuer informed in Report No. 95/2020 dated 30 December 2020.

If the Annex is concluded, the Issuer will communicate this fact in a separate report.

Legal basis:

Article 17(1) of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC, and 2004/72/EC.