PGNiG: Opening of liquidation of BUD-GAZ Sp. z o.o.

The Management Board of Polskie Górnictwo Naftowe i Gazownictwo SA (“PGNiG”) reports that on January 2nd 2013 it was notified that the Extraordinary General Meeting of BUD-GAZ Sp. z o.o. (“BUD-GAZ”) resolved to wind up the company and initiate the company liquidation process.
The decision was made as part of the restructuring process currently under way at the PGNiG Group, aimed to focus its business on key operating segments.
Tomasz Bujak, President of the BUD-GAZ Management Board, was appointed as the liquidator.
BUD-GAZ is a wholly-owned subsidiary of PGNiG, in which it holds 100% of the shares and votes at the General Meeting.
The operations of BUD-GAZ include the organisation and execution of training courses and administration of real estate for PGNiG.