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2014

Report number Report date Report subject
4/2014 2014-03-31 19:06 Conclusion of an Annex to the Significant Agreement with EDF Paliwa Sp. z o.o.

Current report No. 4/2014

 


Date of preparation: 31 March 2014

 

 

Subject: Conclusion of an Annex to the Significant Agreement with EDF Paliwa Sp. z o.o.

 


General legal basis: Art. 56.1.2 of the Act on Public Offering – current and periodic information


Content:
The Management Board of LW Bogdanka S.A. with registered office in Bogdanka (the “Company”) hereby announces that on 31 March 2014 it signed an annex (the “Annex”) to the Long-Term Agreement for the Sale of Power Coal (the “Agreement”) of 19 July 2011 concluded with EDF Paliwa Sp. z o.o. (formerly Energokrak Sp. z o.o.) with registered office at ul. Ciepłownicza 1, 31-587 Krakow (the “Buyer”). The Agreement was described in Current Report No. 21/2011 of 19 July 2011, Current Report No. 42/2012 of 1 August 2012 and Current Report No. 37/2013 of 31 October 2013.

 

As a result of concluding the Annex, the Parties:
- extended the term of the Agreement until 31 December 2017 (previously 31 December 2016),
- specified the terms and conditions of supplies between 2014 and 2017 (including the quantitative volumes and rules for establishing supply prices),
- established the supply price for the first half of 2015.

 


As a result of concluding the Annex, the estimated value of the entire Agreement amounts currently to PLN 832 million net, which represents an increase of 22.1% compared to the value specified in Current Report No. 37/2013 of 31 October 2013.

 


Other terms and conditions of the Agreement remain unchanged and do not differ from the market standards applied in such agreements.

 


The criterion for deeming the Agreement significant is that it exceeds 10% of the value of the Company’s equity.

 

Legal basis for submitting the report: Article 5.1.3 of the Regulation of the Minister of Finance on the Stock Exchange.


Conclusion of an Annex to the Significant Agreement with EDF Paliwa Sp. z o.o. (195.14KB)