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

Legal basis (selected in ESPI):
Article 17 Section 1 of MAR – confidential information

The Management Board of PKP CARGO S.A. (“Company”, “PKP CARGO”) hereby reports that on 19 June 2019 a memorandum of agreement was executed between the Parties to the Company Collective Bargaining Agreement for Employees Hired by PKP CARGO S.A. Units (“Memorandum of Agreement”), (“Parties”).

In the Memorandum of Agreement the Parties decided that a salary increase will be implemented as of 1 August 2019. The Company has estimated that the cost of the increase till the end of 2019 will amount to approx. PLN 45.0 million.

The Parties recommend introducing salary increases in PKP CARGO Group Companies on the same terms as those stated in the Memorandum of Agreement, provided that it is justified by the economic standing of the PKP CARGO Group Companies.

Detailed legal basis:
Article 17 Section 1 of MAR – confidential information