The Executive Board of Apator SA announces that on the 10th April 2012, Apator SA and Cechtar Sp. z o. o. with the headquarters in Tarnów concluded the contract. The subject of the contact is the supply by Apator SA electronic, credit electricity meters of total net value of 18.247.000 PLN. The deliveries will be performed since April 2012 till the end of 2012 based on the orders placed on current basis with defined quantity, assortment, place and date of delivery.
The contract was concluded by correspondence and it was submitted to Apator SA on
11th April 2012.

Apator SA announces that the terms and conditions of the above contract do not differ from typical transactions on the market.

The contract does not include any reservations concerning the condition and the date but Cechtar Sp. z o.o. reserves the possibility of unilateral reduction of order maximum by 10% of the assortment.

Cechtar Sp. z o.o. is entitled to claim from Apator S.A. the following penalties:

- for the failure to keep dates of deliveries agreed by both parties – 0,5% net value of the delivery for each day of the delay but the maximum value will not exceed 10% net value of the delivery;
- for the delay in remedy of the defect of the equipment identified in warranty period – 0,1% net price of the equipment for each day of the delay,
- in case of discrepancy in electricity meters delivered -10% net value of improperly performed part of order;
- in case of  not agreed changes introduced in electricity meters – 10% net value of  improperly performed part of order;

On the other hand Apator SA is entitled to claim from Cechtar Sp. z o.o. to pay liquidated damages for each day of the delay in the receipt of the part of products in value of 0,5% net value of not receipted delivery.

In case where liquidated damages do not cover completely the loss, the parties are entitled to claim the compensation on general rules.

In the recent period of twelve months the companies of Grupa Apator did not conclude with Cechtar Sp. z o.o. any contract except the above one described.

The contract was considered as significant one due to the exceeding the value of 10% of own capitals 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.