Current report no. 48/2018 (04.04.2018)

Title:

Information on maintenance in force of the Financial Supervision Authority’s decision

Legal basis:

Art. 17 sec. 1 Market Abuse Regulation

Message:

The Management Board of URSUS S.A. hereby announces that the Financial Supervision Authority ("KNF") in the letter dated the 27th March 2018, delivered to the Company on the 4th April 2018, in connection with the conducted administrative proceedings, of which the Company informed in the current report no. 44/2016 of the 12th December 2016 and in the current report no. 6/2017 of the 1st March 2017, having examined the Issuer’s application for reconsideration of the case, KNF confirmed the decision of the 28th February 2017 on imposition on the Company of penalty payment in the amount of 100.000 PLN, assuming that the Company failed to exercise its information duty defined in the Art. 56 sec. 1 point 1 of the Act on Public Offering.

In the grounds of the decision, the Financial Supervision Authority indicated that the reason of such a decision was the Issuer’s failure to disclose (although in the opinion of the Financial Supervision Authority it was obligatory) to the Financial Supervision Authority, to the company operating the regulated market and to the public the confidential information about the negotiations that started on the 18th September 2013 and led to conclusion of the agreement, of which in the current report no. 24/2013 of 24.09.2013, i.e. the contract with the Ethiopian company METEC.

The Issuer shall have the right to lodge a complaint to the Woivodship Administrative Court in Warsaw against the above-mentioned decision, that may be lodged through KNF within 30 days the date of notification of this decision.