Further to Current Report no 34/2014 dated 22nd July 2014, the Executive Board of Apator SA announces that on 25th July 2014 Apator SA („Contractor”) and Tauron Dystrybucja Pomiary Spółka z o. o. („Ordering Party”) signed two contracts of the supplies:

- single phase static indirect electricity metres of net value of PLN 11, 3 m,
- three phase static indirect electricity metres of net value of PLN 22, 6 m („Products”).

Total net value of the above mentioned contracts is PLN 33, 9 m and the supplies will be performed successively up to 15th June 2015.

Significant contract for Apator SA is the contract of the supply of three phase electricity metres due the exceeding the value 10% of equities of the Company. 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.

Based on the contract the Ordering Party is entitled to count liquidated damages in case of:

-  delays in shipment – in amount 0,5% of net value of the supply for each day of delay but the maximum value will not exceed 10% of net value of shipment;
- delays in remedy on time of defects found during warranty period/surety period in amount 0, 1% of the price of the Product for each day of delay;
- one of the Parties withdraws from the contract completely or in part due to the Contractor’s fault or when the Contractor withdraws from the contract completely or in part without reason justified – in amount 20% of total value of the subject of the contract being withdrawn;
- breaching by the Contractor the confidentiality obligation – in amount 1% of entire net remuneration for each breaching of the obligation;
- discrepancies of the Product supplied with requirements – in amount 10% of net value of improper performed part of the supplies;
- introduction by the Contractor changes in the Products not agreed by the Parties  – in net amount 10% of improper performed part of supplies.

Compensation liability of the Contractor due to liquidated damages is limited to 100% of entire net remuneration due to performance of the contract.  If mentioned liquidated damages do not compensate the damages completely suffered by the Ordering Party, it reserves the right to apply for complementary compensation in full amount.

On the other hand the Ordering Party is obligated to pay liquidated damages to the Contractor in case when any of the Parties withdraws from the contract in part or completely due to the fault of Ordering Party or when the Ordering Party withdraws in part or completely without reason justified – in amount 20% of total value of the subject matter of the contract being withdrawn.

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.