Minister of Treasury with registered office in Warsaw, ul. Krucza 36/Wspólna 6, 00-522 Warszawa, acting on behalf of the State Treasury, pursuant to Art. 33.1.3 of the Act of 30 August 1996 on Commercialisation and Privatisation (Journal of Laws of 2002, No. 171, item 1397, as amended), hereinafter referred to as the “Act”, and pursuant to the Resolution of the Council of Ministers of 17 February 2009 on detailed procedure of disposal of State Treasury-owned shares (Journal of Laws No. 34, item 264) extends an invitation to negotiations to all interested parties regarding the purchase of:
 

·          892 500 (in words: eight hundred ninety-two thousand five hundred) common registered shares of the nominal value of 40 (in words: forty) PLN each, belonging to the Treasury, which represents 85% of the share capital of Elektrociepłownia Zabrze Spółka Akcyjna, ul. Wolności 416, 41-800 Zabrze, hereinafter referred to as the „EC Zabrze S.A.”

 

and / or
 

·          1 280 780 (in words: one million two hundred eighty thousand seven hundred eighty) common registered shares of the nominal value of 10 (in words: ten) PLN each, belonging to the Treasury, which represents 85% of the share capital of Zespół Elektrociepłowni Bytom Spółka Akcyjna, ul. Energetyki 11, 41-908 Bytom, hereinafter referred to as the „ZEC Bytom S.A.”.

 

Pursuant to Art. 36 of the Act, eligible employees are entitled to acquire, free of charge, 15% of the Companies’ shares belonging to the State Treasury on the date of registration. There is provision that disposal of shares that have not been acquired by eligible employees will also be subject to negotiations with the Investor selected under these negotiations, in the event when eligible employees’ rights to acquire such shares free of charge have expired. 

 

The object of the Companies is production and distribution of heat, production and distribution of electricity.

All interested entities, that until 29 October 2009 will submit a written confirmation of their interest in purchasing the Company’s and / or Companies’ shares addressed to the Advisor representing the Minister of Treasury in the process of disposal of the Companies’ shares – BUDOSERWIS Z.U.H. Sp. z o.o. with registered office in Chorzów and will present documents enabling to identify the Potential Investor, that is a transcript from the Register of Entrepreneurs from the National Court Register / certificate of entry in the register of business activity, reflecting the current standing of the entity (issued not earlier than three months prior to the date of submission), and a letter of authority if needed and will sign the “Confidentiality Obligation” document through the duly authorized representatives of the interested entities will be obtained the “Company’s Information Memorandum of Elektrociepłownia Zabrze Spółka Akcyjna with registered office in Zabrze” (hereinafter referred to as “Memorandum of EC Zabrze S.A.”) and / or “Company’s Information Memorandum of Zespół Elektrociepłowni Bytom Spółka Akcyjna with registered office in Bytom” (hereinafter referred to as “Memorandum of ZEC Bytom S.A.”), including basic information on the legal and economic-financial condition of the company, process of disposal of shares and structure of response to the public invitation to negotiations.
 

Submission of interest of purchase of the Company’s and / or Companies’ shares should be addressed to: BUDOSERWIS Z.U.H. Sp. z o.o. ul. Kościuszki 31, 41-500 Chorzów, tel. (032) 241 24 51 to 57, fax (032) 241 49 56. People responsible for receiving submissions are: Mrs. Gabriela Michalik: g.michalik@e.budoserwis.com.pl and Mr. Marek Walczak: m.walczak@e.budoserwis.com.pl
 

Subject of negotiations shall be mainly price of the purchased block of shares of the Company and / or Companies, proposed by the Potential Investor program of development of the Company and / or Companies, including among others investment obligations, obligations in the scope of environmental protection, obligations in the scope of the Company’s / Companies’ employees’ (and other people related to the Company / Companies) matters protection and way of securing execution of the obligations.
 

Minister of Treasury does not allow for a possibility of paying the price for the acquired shares by instalments. Payment should be made in the form of a banking transfer order.

The deadline for submission of the written response to the public invitation to negotiations on purchase of the shares of the Company and / or Companies by the Potential Investors, who will have collected the Memorandum EC Zabrze S.A. and / or Memorandum ZEC Bytom S.A., expires on the date of 30 October 2009 at 12:00 (Warsaw time).
 

Potential Investors’ responses should be prepared in the Polish language in the form with accordance to the conditions specified in Memorandum EC Zabrze S.A. and / or Memorandum ZEC Bytom S.A. They should be submitted in two copies in sealed envelopes to the Ministry of Treasury, ul. Krucza 36/Wspólna 6, 00-522 Warszawa, at the secretary’s office of the Department of Ownership Supervision and Privatisation I, room 501.

 

The following description should be written on the envelope:

„Odpowiedź na publiczne zaproszenie do negocjacji w sprawie nabycia akcji SpółkiElektrociepłownia Zabrze Spółka Akcyjna
z siedzibą w Zabrzu – Nie otwierać” („Response to the public invitation to negotiations on purchase of the shares of Elektrociepłownia Zabrze Spółka Akcyjna with registered office in Zabrze – Do not open”)

or

„Odpowiedź na publiczne zaproszenie do negocjacji w sprawie nabycia akcji SpółkiZespół Elektrociepłowni Bytom Spółka Akcyjna
z siedzibą w Bytomiu – Nie otwierać” („Response to the public invitation to negotiations on purchase of the shares of Zespół Elektrociepłowni Bytom Spółka Akcyjna with registered office in Bytom – Do not open”)

or

„Odpowiedź na publiczne zaproszenie do negocjacji w sprawie nabycia akcji Spółek:Elektrociepłownia Zabrze Spółka Akcyjna
z siedzibą w Zabrzu oraz Zespół Elektrociepłowni Bytom Spółka Akcyjna z siedzibą w Bytomiu – Nie otwierać” („Response to the public invitation to negotiations on purchase of the shares of Elektrociepłownia Zabrze Spółka Akcyjna with registered office in Zabrze and Zespół Elektrociepłowni Bytom Spółka Akcyjna with registered office in Bytom – Do not open”)

and data enabling to identify Potential Investor.
 

Minister of Treasury reserves the right to request additional information and explanations from the Potential Investors who responded to the public invitation to negotiations.

By 16 November 2009 Minister of Treasury will have informed in writing each of the Potential Investors who responded to the public invitation to negotiations about the results.

Only the responses submitted by the Potential Investor who signed the “Confidentiality Commitment” and collected the Memorandum EC Zabrze S.A. and / or Memorandum ZEC Bytom S.A. will be considered. Minister of Treasury reserves mainly the right to: select one or several entities to participate in negotiations; withdraw from negotiations without any reason, extend the deadline for submission of responses to the public invitation to negotiations, and extend the deadline for informing about the results of considering the responses to the invitation; change the procedure and timetable of the negotiations. Minister of Treasury shall not reimburse any of the costs incurred by the entities interested in purchasing shares in connection with their participation in negotiations and conclusion of an agreement on disposal of the Company’s and / or Companies’ shares.