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Current reports

Contracts concluded with PGE Dystrybucja SA

Nr 19/2014
Date and time: 2014/03/25, 00:00
Category: Concluded contracts

Further to the tender won in PGE Dystrybucja SA („PGE”), the Executive Board of Apator SA announces that on

24th March 2014, in number of 16 contracts were concluded with the Branch Offices of PGE. The subject of the contracts is the supply of metering equipment for electricity measurement systems in 2014 of the value of PLN 30 m with the option of the supplies in 2015 for the amount of PLN 29 m. Apator SA will have received from PGE the declaration of use or resign from the right to the option by 31st October 2014.

The conditions of the contracts concluded are not different to typical ones for such type of transactions on the market.

Apator SA („Contractor”) is obligated to make payment contractual penalty to PGE („Ordering Party”):

(a) in case of withdrawal from the contracts by either Party due to the reasons being the responsibility of the Contractor, - in net amount of 10% of payment and in case of the withdrawal from the contracts by Ordering Party due to defective software for the operation of the equipment being the subject of the supplies – in amount of 30% of the payment;

(b) in case of the delay in the date of the supply by the Contractor of particular batch of the supplies being performed under the contracts – for each day of the delay in net amount of 0, 5% of the payment due to Contractor for the delay of the supply defined as the product of unit price of the equipment and number of ordered or scheduled supplies of the equipment included in the supply delayed;

(c) in case of the delay in the date of remedy the defect in the equipment by the Contractor notified in warranty period – in amount of 5% of the net unit price of particular  equipment  while the penalty is calculated separately to each equipment notified in warranty period;

(d) in case of the delay in date of remedy by the Contractor the defect of the software for the operation of the equipment being the subject of the supplies notified in warranty period – in amount of  PLN 500 for each day of the delay;

(e) in case of the delay in the receipt of the equipment notified for the reception through the fault of the Contractor  - in net amount of 5% of the unit price of particular equipment for each day of the delay while the penalty is calculated separately for each equipment;

(f) in case of breaching the secrecy of the Ordering Party by the Contractor or persons it is responsible for – in amount of PLN 5.000 for each case.

 The Ordering Party has the right to withdraw from the contracts:

(i) in case when the delay of the Contractor in performance of any of the supply or remedy of the notified defects of the software for the operation of equipment being the subject of the supply will exceed 60 days in relation to the fixed date; moreover, the Ordering Party has the right to calculate contractual penalty in amount specified in point (a);

(ii) in case when the software does not provide with the functionality of the equipment included in the order or its use is not possible due to the defects identified or the claims of the third persons; furthermore the Contractor is obligated to return any payments received under the contract from Ordering Party for the return of the equipment received.

 The Contractor has the right to calculate contractual penalties towards the Ordering Party in net amount of 10% of payment in case of the withdrawal from the contract by either of the Party due to reasons the Ordering Party is responsible for.

He contracts have been recognized as the significant one in respect of the exceeding of 10% of equities of Apator SA. The information on the tender won, Apator SA announced in current reports no 8/2014 and no 14/2014.

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.



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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