Performance of the contract of cooperation between Apator Metrix SA and Secure Meters Limited
The Executive Board of Apator SA („Issuer”) announces that subsidiary of the Issuer – Apator Metrix SA with headquarters in Tczew in the period since January till October 2014 sold gas meters to Secure Meters Limited with headquarters in Udaipur (India) for total amount of PLN 30.866.521,92.
The basis for the orders performed is the contract of cooperation („Contract”) concluded on 25thOctober 2012 between the above companies in the scope of development, manufacturing and sales of gas meters complying with criteria of smart metering. At the same time, Apator Metrix SA purchased electronic counters for gas meters from Secure Meters Limited for the total amount of PLN 13.790.785,50 in the above specified period.
The contract of cooperation does not specify the value of the subject of the contract and its performance is carried out based on orders placed on current basis with specification of quantities and prices of the products ordered. The contract will cease at the latest on 31st December 2021.
Apator SA announces that the conditions of the above contract are not different to typical ones for such type of transactions on the market. Moreover, the contract was concluded without any restriction to the condition and date.
In case of the delay of supplies of one of the parties, the party is obligated to make payment of liquidated damages in amount of 0,5% the value of the supply being performed for every week of delay but not more than 5% of value of the supply being performed.
Since the moment of signature of the contract that is 25th October 2012 the value of gas meters sold was PLN 33.197.524,81 but the value of purchases was PLN 16.823.723,40.
The contract of cooperation was found as significant one due mutual turnover performed based on it where total value has exceeded 10% of equity of the Issuer.
In the recent twelve months the entities of Apator Group did not conclude any contract with Secure Meters Limited beside the above one.
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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