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JSW in the course of arrangements

|   Investors Relations - common

In relation to information concerning the use of a "put option" by ING on the amount of approx. 75 million PLN (PLN 26,260,000 and US $ 12,950,000 plus accrued interest), the Company announces that the "put option" mentioned in the report may be exercised by ING Bank Śląski SA as of September 21, counting 10 working days from the date of effective delivery of the agent, i.e. since yesterday.


JSW SA is in talks with ING and other bondholders about the stabilization of the financial situation of the JSW Group, including the discontinuation of implementation of the "put option" by ING. The Board proposed  bondholders to conclude as soon as possible a cooperation agreement that would apply until the end of October.

The purpose of this agreement is to stabilize the financial situation of the JSW Group and to enable the Company to prepare the restructuring and financial business plan.

JSW underlines that the interviews with all the other bondholders indicate that these institutions want to support further work on the preparation of the restructuring plan and are ready to negotiate the text of a cooperation agreement.