86/2019 - Court’s rejection of the application filed by Impression sp. z o.o. regarding Trakcja PRKiI S.A.

In connection with the Company’s Current Report No. 13/2019 of 17 June 2019, the Management Board of Trakcja PRKiI S.A. based in Warsaw (”Company”) hereby informs that on 25/12/2019 it was notified by the Company’s legal representative that the Company was presented with the decision of the District Court for the Capital City of Warsaw in Warsaw, XVIII Business Division for bankruptcy and restructuring, dated 17 December 2019, issued during a closed session in the proceedings initiated by Impression Sp. z o.o. based in Warsaw (”Impression”), pursuant to which the Court decided as follows:

1. To refuse Impression’s request to announce the Company’s bankruptcy, pursuant to Article 12a of the Bankruptcy Law;
2. To refuse the request to secure the Company’s assets, i.e. the request to assign a temporary court supervisor;
3. To determine that the costs of the proceedings shall be born by Impression, along with an obligation to reimburse the Company with incurred costs of the proceedings essential to assert its rights and conduct defence; detailed calculations are to be performed by a court referendary at the District Court for the capital city of Warsaw in Warsaw.

The Management Board of the Company informs that the aforementioned decision is non-final.

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.