Current report

Ikona BIP Ikona Portal Pracownika Ikona poczty Facebook Twitter Instagram Youtube Linkedin RSS Ikona szukania PLEN

Current Report No. 19/2018

  Investors Relations Agreement

Signing of a salary agreement with the JSW S.A. trade unions

Body of the report:

The Management Board of Jastrzębska Spółka Węglowa S.A. (“JSW”, “Company”) reports that on 11 June 2018 a Salary Agreement was signed between JSW and the representative trade union organizations operating in JSW to end the collective dispute commenced on 16 April 2018 concerning a 15% raise in the wage rates and back payment of the benefits lost, according to the demand lodged by the representative trade union organizations, based on the clauses of the Collective Agreement of 16 September 2015, which the Company reported in Current Report No. 47/2015.

Pursuant to the signed salary agreement:

1. The salary fund will be raised by 7% starting in June of this year. In 2018, this will precipitate an increase in the Company’s payroll costs by an amount of roughly PLN 187 million.

2. A non-recurring payment will be disbursed to employees who were employees in 2016 on the date of execution of the foregoing salary agreement based on the clauses of the collective agreement of 16 September 2015 referred to above for a total amount of approximately PLN 370 million.

The signing of the foregoing agreement satisfies the payroll-related claims in 2018.

Legal basis: Article 17 Section 1 of Regulation (EU) No. 596/2014 of the European Parliament and of the Council of 16 April 2014 on Market Abuse 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.

More reports

Current reports