https://www.money.pl/gielda/komunikaty/6353336019404417.html
Another six months delay. What a load of sheet.
JSW Update on a possible cooperation between Prairie Mining and JSW Board of Directors from Jastrzębska Spółka Węglowa Węglowa Węglowa Węglowa S.A. ("JSW", "the Company") announces that JSW and Prairie Mining Limited ("Prairie") have today amended the non-disclosure agreement ("Agreement") originally announced by the Company in its current report dated March 28, 2018, so that the term of the Agreement has been extended by a further 6 months, until September 28, 2019, for further discussions. JSW conducted a preliminary study of Prairie and its designs. The results of the Jan Karski Project confirmed that part of the "Lublin" deposit contains type 34 (semi-soft) gas coal that may be used by JSW remains valid. The study also confirmed the technical possibilities and synergy potentials associated with the provision of coal seams from the Dębieńsko deposit via the infrastructure of the neighbouring Knurów-Szczygłowice mine. The exploitation of these synergies would require a change in the technical conditions of the project and the obtaining of the necessary changes in administrative decisions, including concession decisions. According to JSW, the Szczygłowice Movement infrastructure enables the extraction of type 35 orthococo coal from the deposits of the Dębieńsko deposit within 18 months of receipt of the necessary administrative decisions and amendment of the license. The parties considered that they needed more time to discuss the structure of the transaction and its commercial terms. It is the intention of both parties to continue the negotiations in the coming months, in particular with respect to 1) Possible transaction structure and terms of cooperation or transaction; 2) Adaptation of the Debiensko and Jan Karski projects to the JSW concept and to maximize synergy potentials. There can be no guarantee that the discussions will lead to the conclusion of agreements, nor can there be any assurance as to the form of the potential transaction(s). It should be noted that the potential transaction(s), if any, may be subject to a number of conditions, including: necessary corporate approvals, approvals and financing approvals, Office of Competition and Consumer Protection (OCCP) approvals, if any, and compliance with all other requirements relating to strategy, objectives and regulations applicable to each issuer. For the avoidance of doubt, JSW stated that although the State Treasury holds 55.16% of JSW's share capital and Prairie has initiated an investment dispute with the Republic of Poland, JSW will only act as a rational investor observing the principle of equal treatment of all shareholders in the same circumstances as in Article 20 of the Commercial Code (HGB). The companies will fulfil their obligations to provide the markets with the necessary information. QuotationAnswer Translated with www.DeepL.com/Translator
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