The Extraordinary General Meeting of Shareholders of LW Bogdanka adopted amendments to the Company’s Statute

On 17 August, the Extraordinary General Meeting of Shareholders of LW Bogdanka adopted amendments to the Company’s Statute. Due to the amendments, after their registration with the Register Court, Bogdanka will join Enea Group and will adopt Enea Group’s Code.

Bogdanka’s integration with Enea Group is evolutionary from the moment Enea became a strategic investor in LWB. Actions connected with the incorporation of Bogdanka into Enea Group is the realisation of earlier announcements.

- Adopted changed is the second and last step in the preparation of LW Bogdanka’s statute for implementation of Enea Group’s corporate governance. Thus, we wish to more easily and closer cooperate within an innovative raw materials and energy concern in which Bogdanka constitutes strategic mining assets - said Wiesław Piosik, Enea’s vice-president for corporate affairs, who is a member of the Supervisory Board of LW Bogdanka.

Enea and Bogdanka successfully completed the first stage of integration in mid-April which included an amendment to LWB’s statute within the duty of LWB to act in the interest of Enea Group. The second stage of integration included the adaptation of LWB’s statute, to the greatest possible extent, to Enea Group’s standards, adoption of Enea Group’s Code and Bogdanka joining Enea Group. Thanks to that, Bogdanka will be covered with the common corporate governance in force in Enea Group.

Joint actions in Enea Group allow for building the best position of an innovative raw materials and energy consortium. The integration has a positive impact on the financial result of the whole Enea Group and gives a chance for increasing the revenue.

Enea Capital Group develops in all the links of the chain of values. The coal mined in Bogdanka is transformed into electricity in Kozienice which in turn flows to sockets in households of ca. 2.5 mln Customers. The whole Group presently comprises 27 companies, in which ca. 15 thou. specialists work, and Bogdanka is a competence centre for coal mining there.