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Current reports

Conclusion of significant building construction contract of Manufacturing and Development Center of Apator SA

Nr 15/2011
Date and time: 2011/05/25, 00:00
Category: Concluded contracts

The Executive Board of Apator SA announces that on the 25th May 2011 Apator SA and Marbud Grupa Budowlana SA with headquarters in Toruń (“The Contractor”) signed the building construction contract of modern Manufacturing and Development Center of Apator SA (“ The Investment”) on the area of Pomeranian Special Economic Zone in Ostaszewo, Łysomice commune.The Contractor will perform the investment that includes: preparation of complete construction performance documentation, performance of the “turn key” project itself and getting the permission for the use of “The Investment”. The net value of the contract is 30,5 m PLN (“Receivables”) and it can be changed only in case of change in the scope of works approved by Apator SA. „Receivables” in favour of the Contractor will be paid in monthly installments based on acceptance protocol. Every time Apator SA will deduct from the sum to be paid the value of warranty bail of 5% net price being the hedging for any claims against the Contractor. The day of completion of “The Investment” is considered the day of getting the permission by APATOR SA to use the investment performed “The Investment” but not later than up to the 15th March 2012. The date of completion may be changed due to suspension of works being the result of the act of force majeure, need to perform the additional works or to perform the substitute works or due to late payment by Apator SA.If the Contractor does not meet the deadline of completion of “The Investment” it will pay to Apator SA cash penalty which is 0,03% of „Receivables” up to the 15th April 2012 and after that date 0,3% of „Receivables” for every day of  the delay.The Contractor will pay also cash penalty in amount of 2 000 PLN for each day of the delay in the remedy of faults and defects raised and accepted by the Contractor but not more than 10% of „Receivables”.In case, if the contract is breached through fault of Apator SA, the Company will pay to the Contractor penalty in value of 10% of „Receivables” but the Contractor will retain the right to payment for the works completed to the moment of breaching the contract and also to be compensated of proved costs born and orders made without possibility to cancel them.In case, if the contract is breached through the fault of Contractor, the Contractor will pay to Apator SA the penalty in value of  10% of „Receivables” but Apator will retain the right to claim to remove the effects of works not completed by the Contractor up to the day of breaching of the contract.In case of any damage suffered exceeding agreed the values of penalties, the parties are allowed to claim the compensation to the actual value of the damaged suffered.The contract does not include any restriction regarding the date and condition.The contract has been considered as significant one due to its value exceeded 10% of equities of Apator SA. On the 25th February 2011 Apator SA and Marbud Grupa Budowlana SA with headquarters in Toruń signed the contract of net value of 450 00 PLN for the comprehensive preparation of civil documentation and project supervision over mentioned investment. During the latest twelve months Grupa Apator and Marbud Grupa Budowlana SA with headquarters in Toruń did not conclude any contract except described above. After the conditional preliminary sales contract of property located at Żółkiewskiego in Toruń was signed by Apator SA and Galeria Copernicus Toruń 2 Sp. z o.o. with headquarters in Warsaw, the conclusion of the above contracts is the following stage of performance of the strategy and restructuring of Grupa Apator. The effects of those changes will be the introduction of modern technologies, automation of manufacturing, concentration of part of manufacturing processes and reduction of costs of the activity. Legal base: § 5 para 1 point 3 of the Resolution of Ministry of Finance dated the 19th February 2009 regarding current and regular information being transferred by the issuers of securities and conditions of the information to be considered as equivalent one required by law of the country not being the member of the EU.


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cc group - Katarzyna Mucha

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Jolanta Dombrowska

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