Important contract concluded by Apator Powogaz SA
The Management Board of Apator SA announces that on 12th January 2015, Apator Powogaz SA – the subsidiary and ZAO Teplovodomer - associated entity with the headquarters in Mytishchi (Russia) concluded frame co-operation contract for 2015.
The net value of the frame contract is Eur 10,0 m Eur that is 42,8 m PLN (according to average exchange rate of the Polish National Bank dated 12th January 2015, 1 EUR = 4,2782 PLN). The subject of the contract is the supply of water meters and heat meters to ZAO Teplovodomer.
Apator SA announces that the conditions of the above contract do not differ from typical ones for such kind of transactions on the market. The contract was concluded without any provisions concerning the reservation of term and date. The contract does not include any provisions concerning liquidated damages where the maximum value can exceed the equivalent at least of 10% the value of the contract or at least the value quoted in zloty of the amount of Eur 200 000 according to the average exchange rate announced for the currency by the Polish National Bank binding on the date of conclusion of the contract.
The contract has been considered as the important one due to the exceeding of the value of 10% of equities of Apator S.A.
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 state not being the member of the EU.
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