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Current reports

Conclusion of the significant frame contract by Apator SA with associated company

Nr 13/2011
Date and time: 2011/03/14, 00:00
Category: Concluded contracts

The Executive Board of Apator SA announces that on the 11th March 2011 it received the frame contract concluded by correspondence with Apator Electro SA – associated company with the headquarters in Moscow (Russia).The frame contract was concluded for 2011 and it regards the sales by Apator SA the low voltage switchgear and parts for its assembly.The net value of the frame contract is 5 m EUR that is 19,4 m PLN according to average exchange rate 1 EUR=3,8858 PLN of the National Bank of Poland dated the 11th January 2011 (the date of the frame contract). In the opinion of the Executive Board of Apator SA the frame contract in 2011 will be performed in value of 2,5 m EUR. Apator SA announces that the conditions of the contract do not differ from the conditions typical for such contracts on the market. The deliveries will be performed based on orders placed by Apator Electro SA within a year with terms of delivery of 30 days and the payment in the period 90 days since the date of the invoice. The frame contract has not been concluded with the reservation of condition or date. The frame contract does not include stipulations concerning liquidated damages where maximum value is not allowed to exceed the equivalent at least 10% of the value of the frame contract or at least equivalent in the amount of 200.000 EUR according to average exchange rate announced by the National Bank of Poland for particular currency, obligatory on the day of conclusion of the frame contract.In the period of the recent twelve months the companies in Grupa Apator did not conclude any contract with Apator Elektro SA except that one described above. The frame contract was considered as significant one due to the exceeding of the value of 10% of equity of Apator SA. Legal base:§ 5 para 1 point 3 of the Resolution of Ministry of Finance 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.


Contact for institutional investors and analysts

cc group - Katarzyna Mucha

Mobile +48 697 613 712

Management and Promotions Director of Apator Group

Jolanta Dombrowska

Mobile +48 56 61 91 228


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