Contracts concluded that meet in total the criterion of significant contract
The Executive Board of Apator SA announces that subsidiary - Apator Mining Sp. z o. o. (“The Contractor”) and Kompania Węglowa SA with headquarters in Katowice together with its Branch Offices (“ The Ordering Party”) during the recent 12 months concluded in total 33 contracts for the total value of 21,8 m PLN. The above contracts in total have been considered as the significant contract due to the exceeding of the value 10% of equities of Apator SA.
The contract of the highest value was concluded on 26th February 2013 (“The Contract”). It regards the deliveries of intrinsically safe mining circuit breakers and withdraw units by Apator Mining Sp. z o.o. to Branch Offices of Kompania Węglowa SA in amount of 3,6 m PLN. The terms and conditions do not differ from typical ones for such type of transactions on the market. The Contract was concluded without restriction to the terms and conditions.
In case of failure to perform or improper performance of the Contract, Apator Mining Sp. z o.o. is obligated to pay to Kompania Węglowa SA the following liquidated damages:
- in amount of 10% of net value of not performed part of the contract, when the Ordering Party withdraws from the contract due to the reasons the Contactor is responsible for;
- in amount of 10% of net value of the good specified each time in not performed part of the order when the Ordering Party withdraws from the order for the reasons the Contactor is responsible for;
- in amount of 0,1% of contractual net value of the delivery specified each time in the order, not delivered on time for each commenced day of the delay till the day of delivery of the good, while from 31st day of the delay, liquidated damage is in amount of 0,5%; in case of definite failure of performance of the order or its part when the contract is not withdrawn, liquidated damage is equal the value of not performed order;
- in amount of 0,1% of net value of the delivery claimed for each commenced day of the delay during warranty period;
- in amount of 0,5% of net value of delivery for each day of the delay in case when the complaint is not considered and lack of the reply in writing within 3 working days that was made by Ordering Party due to receipt of defected products;
- in amount of 0,5% on net value of the delivery for each day of the delay in case when the complaint of Ordering Party was accepted and the free of defects products had not been delivered within 3 working days.
Furthermore, Ordering Party apart to liquidated damages has the right to demand compensation based on general rules to the value of actual incurred losses.
On the other hand Apator Mining Sp. z o.o.is entitled to the following liquidated damages from Kompania Węglowa SA:
- in amount of 10% of net value of the delivery specified each time in not performed order if the Contractor withdraws from the contract due to reasons that Ordering Party is responsible for;
- in amount of 0,1% net value of ordered but rejected delivery due to the fault of Ordering Party for each commenced day of the delay.
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 country not being the member of the EU.
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