Ursus : Information about the Financial Supervision Authority’s decision

Current report no. 6/2017 (01.03.2017)

Title:

Information about the Financial Supervision Authority's decision

Legal basis:

Art. 17 sec. 1 Market Abuse Regulation

Message:

The Management Board of URSUS S.A. hereby informs that the Financial Supervision Authority ("KNF") at the meeting held on the 28thFebruary 2017 in connection with the conducted administrative proceedings, of which the Company informed in the current report no. 44/2016 of 12.12.2016, decided on imposition on URSUS S.A. of penalty payment in the amount of 100.000PLN, assuming that the Company failed to exercise its information duty defined in the Art. 56 sec. 1 point 1 of the Act on Public Offering. In the grounds of the decision, the Financial Supervision Authority indicated that the reason of such a decision was the Issuer's failure to disclose (although in the opinion of the Financial Supervision Authority it was obligatory) to the Financial Supervision Authority, to the company operating the regulated market and to the public the confidential information about the negotiations that started on the 18thSeptember 2013 and led to conclusion of the agreement, of which in the current report no. 24/2013 of 24.09.2013, i.e. the contract with the Ethiopian company METEC.

With reference to the above, the Company's Management Board hereby informs that it is going to contest the aforementioned decision because it is convinced that the Company correctly interpreted the regulations and duly fulfilled its obligations concerning the transaction.