Legal attitude: Art. 17 para. 1 MAR - confidential information.
Bankruptcy Receiver EUROCENT Joint-Stock Company in bankruptcy with its registered office in Krakow hereby informs that it has received information on the initiation by the President of the Office of Competition and Consumer Protection in Kraków of the proceedings regarding the use by EUROCENT Spółka Akcyjna in the bankruptcy of practices violating collective Consumer interests (RKR-610-2 / 18 (DN)), consisting in not reducing in the case of early repayment of all or part of the consumer loan the total cost of credit by the commission cost, which relate to the period by which the contract was shortened, which can be considered incompatible with art. 49 par. 1 and par. 2 of the Act of 12 May 2011 on consumer credit (Journal of Laws of 2018, item 993 and 1075) and to reconcile the collective interests of consumers, and consequently violate art. 24 sec. 1 and 2 above Act on competition and consumer protection.
This information is considered material due to possible sanctions that may be imposed on the Company by the President of the Office of Competition and Consumer Protection in the event of a disadvantageous termination of the proceedings. According to art. 106 sec. 1 point 4 of the Act of February 16, 2007 on Competition and Consumer Protection (Journal of Laws of 2018, item 798 - consolidated text), the President of the Office of Competition and Consumer Protection may impose a fine on the entrepreneur by way of a decision in the amount of no more than 10% of turnover achieved in the financial year preceding the year of imposing the penalty, if the entrepreneur, even if inadvertently committed the practice infringing collective consumer interests within the meaning of art. 24 above Act.
Source: company website, investor relations, current and periodic reports.