Significant contract concluded by Apator Powogaz S.A.
The Executive Board of Apator SA announces that on 13th January 2014, Apator Powogaz SA – the subsidiary and ZAO Teplovodomer - associated entity with the headquarters in Mytishchi (Russia) concluded frame co-operation contract for 2014.
The net value of the frame contract is 13,5 m Eur that is 56,2 m PLN (according to average exchange rate of the Polish National Bank dated 13th January 2014, 1 EUR = 4,1600 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 200 000 Eur 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 significant one due to the exceeding of the value of 10% of entities 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 country not being the member of the EU.
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