Establishment of a subsidiary in Bulgaria

PPC S.A. announces the establishment of a subsidiary company in Sofia, Bulgaria, jointly with the Suiss company ALPIQ Group (share capital: 85% PPC and 15% ALPIQ). The company will be engaged in electricity trading and its share capital amounts to one million two hundred (1,200,000) Bulgarian Leva (or approx. € 614,000).
The new subsidiary is in the process of applying for a license to the Bulgarian Regulatory Authority for Energy. We will proceed with a new announcement as soon as the licensing process is completed. The establishment of the said subsidiary is within the framework of PPC’s strategy to expand in other markets of the South East Europe.