14/2013
14/2013
Concluding Annex to the Significant Agreement with PGNIG Termika S.A.
Content:
The Management Board of LW BOGDANKA S.A. with registered office in Bogdanka (“Company) hereby informs you that on 28 May 2013 it concluded an Annex to the Agreement on Sale/Purchase of Power Coal (hereinafter Agreement) with PGNIG Termika S.A. with registered office in Warsaw, 03-216 Warsaw, ul. Modlińska 15.
Agreement concerns delivery of the coal by Company in 2013-2015 for the purpose of Żerań Heat and Power Station and Siekierki Heat and Power Station which main holder is PGNIG Termika S.A. Current Report No. 13/2012 of 23 April 2012 and Current Report No. 13/2013 of 29 April 2013 concerned to the above agreement.
Under the Annex, the condition precedent shall be changed which was subject of Current Report No. 13/2012, shall read as follows:
a) In the event that the supply price for 2014 is not established by 15 July 2013, the Agreement becomes automatically terminated as at 31 December 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 concluded Agreement to be significant is that it exceeds 10% of the value of the Company shareholders’ equity.
Legal basis for submitting the report: Article 5.1.3 of the Regulation of the Minister of Finance on the Stock Exchange
The Management Board of LW BOGDANKA S.A. with registered office in Bogdanka (“Company) hereby informs you that on 28 May 2013 it concluded an Annex to the Agreement on Sale/Purchase of Power Coal (hereinafter Agreement) with PGNIG Termika S.A. with registered office in Warsaw, 03-216 Warsaw, ul. Modlińska 15.
Agreement concerns delivery of the coal by Company in 2013-2015 for the purpose of Żerań Heat and Power Station and Siekierki Heat and Power Station which main holder is PGNIG Termika S.A. Current Report No. 13/2012 of 23 April 2012 and Current Report No. 13/2013 of 29 April 2013 concerned to the above agreement.
Under the Annex, the condition precedent shall be changed which was subject of Current Report No. 13/2012, shall read as follows:
a) In the event that the supply price for 2014 is not established by 15 July 2013, the Agreement becomes automatically terminated as at 31 December 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 concluded Agreement to be significant is that it exceeds 10% of the value of the Company shareholders’ equity.
Legal basis for submitting the report: Article 5.1.3 of the Regulation of the Minister of Finance on the Stock Exchange