News28 Mar 2018 23:13
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The Management Board of Jastrzębska Sp�łka Węglowa S.A. ("JSW") informs that on March 28, 2018, Prairie Mining Limited ("Prairie") and JSW entered into a Confidentiality Agreement ("Agreement") as a result of Prairie to JSW regarding potential cooperation on prime coal projects Prairie In Poland, the purpose of the Agreement is to enable the exchange of technical and commercial information, which will facilitate the conduct of key and more advanced talks on all possible transaction options regarding Prairie projects.
Prairie will provide information on the coking coal project under the Debieńsko-1 concession granted in 2008 to enable JSW to assess the feasibility and economic conditions of this project, including factors such as the stage of its development, the terms of the mining license, environmental permits and agreement on the establishment of mining usufruct.
As part of this process, JSW will also assess various other threats and opportunities, including those related to the JSW infrastructure existing at the neighboring KWK Knur�w-Szczygłowice.
Prairie will provide information on the Jan Karski project in the Lublin Coal Basin to enable JSW to assess the feasibility and economic conditions of this project in the field of coking coal, including factors such as its development stage, physicochemical parameters of coal (in particular its parameters coking), time frame and conditions related to the obligation to obtain a mining concession, as well as other various threats and opportunities.
It should be emphasized that talks are conducted in the initial phase and even in the case of transition to talks about specific terms of the transaction, any possible transaction or transactions, if it occurs, may depend on meeting a number of standard conditions, including from obtaining positive assessments and expert opinions, necessary corporate approvals, approvals and approvals regarding financing, approvals of the Office of Competition and Consumer Protection (UOKiK), if they are required, and meeting any other requirements related to the strategy, objectives and regulations applicable to each issuer.
There is no certainty that the talks will lead to the conclusion of any contract (s), and there is no certainty as to the form of any transaction (s).
The confidentiality agreement allows you to hold talks for an initial period of up to 6 months, which can be extended by mutual agreement.
The companies will comply with their obligations to provide the required information to the markets.
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