Memorandum of Agreement between the parties to the Company Collective Bargaining Agreement for Employees Hired by the Establishments of PKP CARGO S.A.

Legal basis (selected in ESPI): Article 56 Section 5 of the Act on Offering – information update

In reference to current report no. 74/2015 of 16 December 2015 the PKP CARGO S.A. Management Board (“Company”, “PKP CARGO”) hereby reports that on 15 March 2016 a memorandum of agreement was executed between the parties to the Company Collective Bargaining Agreement for Employees Hired by the Establishments of PKP CARGO S.A. (“CCBA Memorandum of Agreement”), in particular with respect to the collective dispute commenced on 2 July 2015.

By the power of the CCBA Memorandum of Agreement, the trade union party undertakes to dissolve the National Protest and Strike Committee and to bring about the dissolution of the Protest and Strike Committees at the establishment level and to call off any and all protest and strike-related actions pertaining to the Company’s structural and organizational changes.

Moreover, the parties to the CCBA Memorandum of Agreement undertake to enter into a memorandum of agreement pertaining to the collective dispute commenced on 2 July 2015 by 30 June 2016 to implement, in particular, the post-inspection report of the District Labor Inspector in Warsaw of 15 October 2015 on making changes to the terms and conditions of salary in the form of additional protocols to the Company Collective Bargaining Agreement.

Legal basis:
Article 56 Section 5 of the Act of 29 July 2005 on Public Offering and the Terms and Conditions for Introducing Financial Instruments to an Organized Trading System and on Public Companies (Journal of Laws of 2013, item 1382).