Legal Basis: Article 56 Section 1 Item 2 of the Act on Offerings – current and periodic information
Body of the Report:
The Management Board of Jastrzębska Spółka Węglowa S.A. (“Company”) hereby announces that on 29 September 2011 the Company’s Supervisory Board, acting under the right arising out of § 20 Section 2 Item 6 of the Company’s Articles of Association, selected PricewaterhouseCoopers Sp. z o.o. with its registered office in Warsaw at Al. Armii Ludowej 14 as the entity authorized to audit the Company’s financial statements for 2011 and 2012 together with the consolidated financial statements of the JSW Capital Group as well as review the standalone and consolidated interim financial statements of JSW S.A. for H1 2012 and 2013 prepared in accordance with the International Financial Reporting Standards (IFRSs) approved by the European Union.
The entity authorized to perform the audits was selected in accordance with the applicable laws and professional standards.
The relevant agreement shall be entered into for a term enabling the performance of the subject matter of the agreement.
PricewaterhouseCoopers Sp. z o.o. is entered by the National Chamber of Auditors in the list of entities authorized to audit financial statements under number 144.
PricewaterhouseCoopers Sp. z o.o. audited the Company’s financial statements for 2006, 2009 and 2010, the JSW Capital Group’s consolidated financial statements of for 2006, 2009 and 2010, and reviewed the interim condensed standalone and consolidated financial statements for H1 2011. Furthermore, the Company used the services of PricewaterhouseCoopers Sp. z o.o. for works related to the issue prospectus prepared for the IPO of JSW S.A. and the seeking of approval for admission and introduction of the Company’s shares to trade on a regulated market operated by the Warsaw Stock Exchange as well as consulting services pertaining to:
1. analysis of the accounting policy and accounting and tax risks at KWK “Budryk” S.A.;
2. assessment of the amount and correct posting in the accounting ledgers of costs incurred on the establishment of access pits and acceptance into the register and settlement of depreciation of fixed assets associated with the opening of new mining fields.
Legal Basis:
§ 5 Section 1 Item 19 of the Regulation issued by the Finance Minister on 19 February 2009 on the Current and Periodic Information Transmitted by Securities Issuers and the Conditions for Recognizing the Information Required by the Regulations of a Non-Member State as Equivalent (Journal of Laws of 2009 No. 33 Item 259, as amended).