On 20th December 2021, Emitel submitted an appeal against the judgment in the Magna Polonia suit issued by the Regional Court in Warsaw, XVI Commercial Department. In the appeal, the Company demands the judgment to be changed and the lawsuit to be dismissed in its entirety as unfounded.
From the beginning of the proceedings, Emitel has taken a stance that the claims of Magna Polonia are unfounded and erroneous, and the evidence collected in the course of proceedings, documents and testimonies of witnesses independent of the parties irrefutably confirm that.
The District Court, in a non-final judgment dated July 2, 2021, issued a significant judgement in favor of Magna Polonia that indicated that there had been a breach of a confidentiality in 2013. Emitel disputes this judgement and states that there has been no breach of a confidentiality obligation. Reading the justification of the judgment, delivered by the Court on December the 6th, 2021, and to which the Company had been waiting for many months, only strengthened this conviction. We expect that the case, which has been pending for more than eight years, will find a quick ending in a favorable judgment for Emitel by the Court of Appeal. Emitel has the full support of its investors in pursuing a vigorous defense of the appeal of the judgement.
Emitel has been operating on the Polish market for several decades providing services to all major TV and radio broadcasters, as well as to many public institutions in Poland. Emitel delivers a unique combination of a team of high-class specialists, exceptional operations of essential broadcast infrastructure, high quality services, and high business and ethical standards in relations with our partners – customers, suppliers, market regulators.
The company has maintained its financial strength, access to sources of capital, and operational efficiency even during the Covid-19 pandemic. In 2020, Emitel refinanced its 1.5 billion PLN debt facility with a group of high quality lenders from Poland and leading international banks. The company continues to implements key projects, including 700MHz band refarming, i.e. to free up band for the purposes of building 5G networks in Poland – a key project for Poland national objectives for telecommunications. The attention of the Management Board is focused on further building of the Company’s value and exploiting the opportunities which arise from the need to expand the telecommunications and broadband infrastructure in Poland.
