21/2013
21/2013
Concluding an annex to the significant agreement with Zakłady Azotowe Puławy S.A.
Content:
The Management Board of Lubelski Węgiel Bogdanka S.A. with registered office in Bogdanka (the “Company”)hereby announces that on 10 June 2013 an Annex was signed to the Long-Term Agreement on Sale of PowerCoal of 8 January 2009, concluded between the Company and Azoty Group Zakłady Azotowe Puławy S.A. (“ZAPuławy”) with registered office in Puławy.
The subject matter of the Agreement is the supply-sale of power coal to ZA Puławy.The Annex specifies the change in volume of coal supplies for ZA Puławy in 2013 and the change in the level ofliquidated damages.
As a result of concluding the Annex, the value of the Agreement (without regard to possible increases, deviationsand tolerance) currently amounts to a total of PLN 1,052 million net (i.e. 0.57 % less than in Current Report No.55/2012). As a result of concluding the Annex, from 1 January 2014 the level of liquidated damages for unrealised annual amounts of supplies specified in the Agreement, and shall amount to 20% of the value of the unrealised amountof supplies with contractual parameters (previously 10%).
Other terms and conditions of the Agreement remain unchanged and do not differ from the market standardsapplied in such agreements.
The Agreement of 8 January 2009, which was disclosed by the Company in Current Report No. 29/2009, andamended by the Annex of 5 December 2011, which was disclosed in Current Report No. 26/2011, and Annex of28 December 2012, which was disclosed in Current Report No. 55/2012, was deemed significant for it exceeds10% 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 Lubelski Węgiel Bogdanka S.A. with registered office in Bogdanka (the “Company”)hereby announces that on 10 June 2013 an Annex was signed to the Long-Term Agreement on Sale of PowerCoal of 8 January 2009, concluded between the Company and Azoty Group Zakłady Azotowe Puławy S.A. (“ZAPuławy”) with registered office in Puławy.
The subject matter of the Agreement is the supply-sale of power coal to ZA Puławy.The Annex specifies the change in volume of coal supplies for ZA Puławy in 2013 and the change in the level ofliquidated damages.
As a result of concluding the Annex, the value of the Agreement (without regard to possible increases, deviationsand tolerance) currently amounts to a total of PLN 1,052 million net (i.e. 0.57 % less than in Current Report No.55/2012). As a result of concluding the Annex, from 1 January 2014 the level of liquidated damages for unrealised annual amounts of supplies specified in the Agreement, and shall amount to 20% of the value of the unrealised amountof supplies with contractual parameters (previously 10%).
Other terms and conditions of the Agreement remain unchanged and do not differ from the market standardsapplied in such agreements.
The Agreement of 8 January 2009, which was disclosed by the Company in Current Report No. 29/2009, andamended by the Annex of 5 December 2011, which was disclosed in Current Report No. 26/2011, and Annex of28 December 2012, which was disclosed in Current Report No. 55/2012, was deemed significant for it exceeds10% 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