Performance of the contract of cooperation between Apator Metrix SA and Flonidan DC A/S
The Executive Board of Apator SA announces that the subsidiary - Apator Metrix SA with headquarters in Tczew, in 2011 sold gas meters to Flonidan DC A/S with headquarters in Horsens (Denmark) in total value of 22.471 000 PLN.The basis for the sale performed was the contract of cooperation between companies in development, manufacturing and sales of gas meters complying with smart metering concluded on the 30th September 2010.At the same time subsidiary - Apator Metrix SA in the above mentioned period purchased electronic components to gas meters from Flonidan DC A/S in total value of 14.471 000 PLN.The contract of cooperation does not specify the value of performance of the subject of the contract; but it is concluded for the period of 5 years.The contract of cooperation is being performed by making orders on current basis specifying quantities and prices of the products being ordered.Apator SA announces that the above conditions of the contract of cooperation do not differ from the conditions of typical transactions on the market. Moreover the contract was concluded without any reservation to the condition or the duration.In case of the delay in delivery by one of the parties, the party is obligated to pay liquidated damages in value of 0,5% value of the delivery being performed for each day of delay but not more than 10% value of the delivery being performed.Since the moment of the signature of the contract that is the 30th September 2010 the value of gas meters sold by Apator Metrix SA to Flonidan DC A/S was 24.640 000 PLN but the value of the purchases from Flonidan DC A/S was 15.320 000 PLN. In the period of the recent twelve months the companies in Grupa Apator did not conclude any contract with Flonidan DC A/S except the above one described. The contract of cooperation was considered as the significant one due to mutual turnover being performed based on it that total value exceeds 10% equities of Apator SA (issuer). Legal base : § 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 of the information to be considered as equivalent one required by law of the country not being the member of the EU.
CONTACT ON INVESTOR RELATIONS
Frequently asked questions and answers.