Apator Powogaz SA - subsidiary concluded the significant contract
The Management Board of Apator SA announces that on 11th January 2016, Apator Powogaz SA- the subsidiary and ZAO Teplovodomer – associated entity with headquarters in Mytishchi (Russia) concluded the frame contract of cooperation for 2016.
The net value of the frame contract is EUR 8 m i.e. PLN 34,8 m (according to the average exchange rate of the Polish National Bank dated 8th January 2016 , 1 EUR = 4,3457 PLN). The subject of the contract is the supply of water meters and heat meters to ZAO Teplovodomer.
Apator SA announces that the conditions of the above described contract do not differ from typical such kind of transactions on the market. The contract has been concluded without any restrictions to the condition or date and it does not contain any provisions regarding liquidated damages where the maximum value may exceed at least 10% of the value of the contract or at least the equivalent in Polish zloty of the amount of EUR 200 000 according to the average exchange rate announced for that currency by the Polish National Bank binding on the day of conclusion of the contract.
The contract has been recognized the significant one due to the exceeding the value 10% of equity of Apator SA.
Legal basis: § 5 para 1 point 3 of the Regulation of Minister of Finance regarding current and regular information being transferred by the issuers of securities and conditions to be considered as equivalent information required by law of the state not being the member of the EU.
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