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Partial release of JSW’s debt

By virtue of a decision by the Polish Development Fund, more than half of the preferential loan granted at the end of last year to Jastrzębska Spółka Węglowa under the government-sponsored program Financial Shield of the Polish Development Fund for Large Companies has been forgiven.

In December 2020, JSW obtained a PLN 173.6 million preferential loan. The Polish Development Fund has decided that part of this loan in the amount of PLN 89,175,000 will be forgiven.

In accordance with the rules of the Financial Shield of the Polish Development Fund for Large Companies, a maximum of 75 percent of what has been defined as the actual damage caused by the COVID-19 pandemic may be forgiven. The forgiveness has been granted at the request of JSW, whereas the decision on the amount to be forgiven is made in each case by the Polish Development Fund.

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Memorandum of Agreement signed at JSW S.A.

Today (13 February), the Management Board of JSW S.A., together with the Representative Trade Unions and with the participation of Deputy Minister of State Assets Grzegorz Wrona, signed a Memorandum of Agreement on adjusting labor costs to the Company's current…

 The result of the referendum at JSW S.A.

In the referendum that ended today, JSW S.A. employees voted in favor of adopting the Suspension Memorandum of Agreement.

 Savings at JSW also at the level of Management and Supervisory Boards

Due to the difficult financial standing of JSW, the members of the Company's Management Board will request a reduction in their salaries so that it is adjusted to the Company's current financial situation.

 Announcement by the Ministry of State Assets

For many months, the management of the Ministry of State Assets has been consistently taking steps to develop an optimal remedy plan for Jastrzębska Spółka Węglowa, which is in a very difficult financial position.

 JSW has obtained approval from the Social Insurance Institution (ZUS) to pay contributions in installments

Jastrzębska Spółka Węglowa has received approval from the Social Insurance Institution to pay part of its contribution liabilities in installments.

 A referendum on the Draft Suspension Memorandum of Agreement to be held at JSW

Jastrzębska Spółka Węglowa S.A. announces the completion of negotiations and agreement on the terms and conditions for the Draft Suspension Memorandum of Agreement. The Memorandum of Agreement will aim to introduce temporary changes to the terms and conditions of…
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