PGNiG: PGNiG trade unions enter into a collective dispute with the employer

The Management Board of Polskie Górnictwo Naftowe i Gazownictwo SA (“PGNiG”, the “Employer”) announces that a collective dispute was initiated after, on July 9th 2014, the Employer had rejected demands put forward by the PGNiG trade unions.
The collective dispute relates to the Employer’s refusal to grant the following demands:
1. to set the remuneration growth rate for 2014 at 5.59% per year;
2. to increase the value of vouchers to PLN 2,000 per year;
3. to revoke the termination of Agreements on Annual Bonus of March 27th 2013 and June 24th 2013.
Given the economic situation in Poland and the Company’s current standing, and in view of the ongoing PGNiG Group Efficiency Improvement Programme, the Management Board decided not to grant the demands put forward by the PGNiG trade unions.
The Management Board declares that it will make every effort to resolve this dispute taking into account the Company’s financial capacity.