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Current reports

Significant contract concluded by Apator SA

Nr 22/2012
Date and time: 2012/05/21, 00:00
Category: Concluded contracts

The Executive Board of Apator SA announces that on the 21st May 2012 Apator SA („The Seller”) and Energa-Operator SA („the Buyer”) with headquarters in Gdańsk concluded the significant contract. Subject of the contract is the supply by Apator SA electronic, post-paid electricity meters of total net value of 24.873 000 PLN. Deliveries will be made in the next 24 months to particular branch offices of Energa-Operator SA based on orders placed on current basis specifying the quantities and places of delivery. Apator SA advises that conditions of the above contract do not differ from typical ones for transactions on the market. The contract does not include any provisions concerning the conditions and term however it can be terminated with immediate effect if:- number of defected electricity meters will exceed 2% of total number in the contract;- at least 3 deliveries will be performed with delay at least 14 days each in default of the Seller .The hedging of suitable performance of the contract is bank guarantee placed by Apator SA for the amount of 612 000 PLN. The Buyer will return 70% of the amount of hedging after 30 days since the date of suitable performance of the contract is completed and 30% not later than on the 15th day after the guarantee expires for the defects for the last batch delivered.Energa-Operator SA is entitled to claim the following liquidated damages from Apator SA :- for the delay in delivery of given number of electricity meters in value of 2% of gross price of the given part of the supply for each commenced week of the delay ;- for the withdraw by the Buyer from the contract of the part not performed yet in fault of the Seller in value of 10% of total gross price of the part not performed yet;- for the delay in remedy, repair or warranty replacement of electricity meter in view of warranty conditions in value of 10% of gross unit price for each commenced week of the delay calculated on 14 days after the day of application but not more than 100% of the price of the electricity meter;- in case when during warranty period the number of defected electricity meters obtained from one supplier will exceed 2% of total number of this delivery – in value of 90 PLN for each defected electricity meter installed in the network from this delivery.In case of coincidence of entitlements for claims by Energa-Operator SA concerning the payment of liquidated damages by Apator SA, the Seller is allowed to claim the cumulative payment of all liquidated damages. On the other hand the withdraw from the contract completely or in part by Energa-Operator SA in  its fault , Apator SA is entitled to claim from the Buyer the payment of liquidated damages in value of 10% of gross price of the part of the contract not performed yet.In case when liquidated damaged do not reimburse liquidated damages completely the parties are allowed to claim liquidated damages based on general conditions.The contract has been recognized as significant one due to the exceeding the value of 10 % of equities of Apator SA.In the period of the recent twelve years the companies of Grupa Apator concluded with Energa-Operator SA seven contracts of total net value of 37.985 000 PLN (with the above signed included). The contract of the highest value in this period is the above signed 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 country not being the member of the EU. 


Contact for institutional investors and analysts

cc group - Katarzyna Mucha

Mobile +48 697 613 712

Management and Promotions Director of Apator Group

Jolanta Dombrowska

Mobile +48 56 61 91 228


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