No. 41/ 2019
| 28-11-2019
PKN ORLEN S.A. (“Company”, “Issuer”) discloses the following inside information, publication of which was delayed on 22 October 2019:
“PKN ORLEN (“Company”) informs that on 22 October 2019 the Company’s Management Board gave consent for realization of the EPC phase of investment project called: “Visbreaking Installation at production plant in Plock”. The project's implementation aims to improve crude oil production efficiency by increasing the yield of high-margin products as a result of in-depth conversion of vacuum residue from the Crude Distillation Unit. The cost of investment will amount to ca. PLN 1 bn.
Realization of the project requires the consent of the Company’s Supervisory Board, which the Management Board applied for today.
On the base of Art. 17 item 1 and 4 of the Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC.”