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Current reports

Updated information on important contract concluded with S&T (Smart City Wrocław project)

Nr 41/2015
Date and time: 2015/09/21, 00:00
Category: Concluded contracts

The Management Board of Apator SA (" The Issuer") announces that the Company has been providing to S&T Services Polska sp. z o.o. ("S&T") with electricity meters of OSGP technology under the Smart City Wrocław ("SCW") project being performed by Tauron Dystrybucja SA. The value of the contract concluded with S&T (current report no. 22/2015) is PLN 26,5 m, however in case of:

- return of guarantee in amount of PLN 7 m, established by the Issuer towards LG CNS Co. Ltd., based on the contract concluded with the earlier consortium member of the project - WorldIT Systems ("WITS");

- inflow of receivables for earlier provided electricity meters to  WITS  in amount of PLN 2,4 m;

value of the contract will be PLN 22,7 m.

The Issuer announces that on 21st September 2015 received the guarantee back that had not been used in total and neither in part by LG CNS Co. Ltd. Moreover, the receivables in amount of PLN 2,4 m have been duly settled by S&T. Further to the above the value of the contract concluded with S&T has been updated to the amount of PLN 22,7 m.

In result of return of the above guarantee, the risk of the Issuer has been significantly limited and the performance of the SCW project is proper and pursuant to the contract.

The above information is the updating of current report no. 22/2015. - art. 56 para 5 of the act dated 29th July 2005 on public bid and conditions of introduction of financial instruments to organized trading system and public companies. 


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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