Significant contract concluded by Apator Powogaz SA
The Executive Board of Apator SA announces that on 11th January 2013 subsidiary - Apator Powogaz SA with the headquarters in Poznań and associated entity - ZAO Teplovodmer with headquarters in Mytishchi (Russia) concluded the sales contract of water meters and heat meters to be sold by Apator Powogaz SA. Total net value of the contract is 10,5 m Eur. It is the value of 43 m PLN according to the average exchange rate of National Bank of Poland, 1 EUR = 4,0996 PLN, dated 11th January 2013.
The contract will be performed in 2013 and the conclusion of the contract is aimed at strengthening the position of Apator Powogaz SA on Russian market and successive performance of defined sales tasks by Apator Powogaz SA.
Apator SA announces that the conditions of the above described contract are not different to typical conditions for such type transactions on the market. The contract was concluded without any reservation of term or date.
The contract does not include any provisions regarding liquidated damages, which maximum value can exceed the equivalent at least of 10% value of the contract or if quoted in zloty, the equivalent of 200 000 Eur. It is according to the average exchange rate for specified currency, binding on the date of conclusion of the contract announced by the National Bank of Poland, In the period of recent twelve months, the entities of Grupa Apator did not conclude with ZAO Teplovodmer any contract except the above described one. The contract was considered as significant one due to the exceeding the value of 10% of entities of Apator SA.
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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