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Current Report No. 5/2018

  Investors Relations Contract

Submission of a conditional binding proposal for the acquisition of a stake in PBSz S.A.

Body of the report:

The Management Board of Jastrzębska Spółka Węglowa S.A. (“JSW”, “Company”) hereby reports that on 30 January 2018 it submitted a conditional binding proposal (“Proposal”) for the acquisition of 4,430,476 shares representing a 95.01% stake in the share capital of Przedsiębiorstwo Budowy Szybów S.A. with its registered office in Tarnowskie Góry (“PBSz”).

PBSz’s line of business is the provision of specialized mining services: vertical mine workings (mainly shafts and prospecting shafts), horizontal mine workings and tunnels, construction services, architectural services, engineering services, rental of machinery and equipment without operators, installation services, repairs and maintenance of machinery for the mining, quarrying and construction industries.

The acquisition, if consummated, will fit into the objectives the Company’s Strategy. 

JSW’s assumption is that the submission of the Proposal will enable the commencement of negotiations on the detailed terms and conditions of an agreement for the acquisition of a majority stake in PBSz by JSW (“Agreement”).

The execution of the Agreement is contingent on the fulfillment of a number of conditions precedent, including the obtaining of corporate approvals, the consent of JSW’s bondholders, the consent of UOKiK and the fulfillment of other business conditions.

The Company will keep disclosing information about further key events pertaining to the PBSz acquisition process in its subsequent reports.

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.

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