25/2015
25/2015
Concluding Annex to the Significant Agreement with PGNiG Termika S.A.
Current report No. 25/2015
Date of preparation: 31 August 2015
Subject: Concluding Annex to the Significant Agreement with PGNiG Termika S.A.
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 (“Company) hereby informs you that on 31 August 2015 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. The Agreement concerns coal supplies provided by the Company between 2013 and 2015 for the purposes of, among others, Żerań Heat and Power Station and Siekierki Heat and Power Station, both owned by PGNiG Termika S.A.
The Agreement was referred to in Current Reports Nos. 13/2012 of 23 April 2012, 13/2013 of 29 April 2013, 14/2013 of 28 May 2013, 28/2013 of 5 July 2013, 6/2014 of 24 April 2014, 14/2014 of 31 July 2014, 17/2014 of 25 September 2014, 19/2014 of 14 November 2014 and 18/2015 of 22 June 2015.
The Annex concerns the extension of the term of the Agreement until 31 December 2016 (previously 31 December 2015), and the terms and conditions of supplies in 2016.
As a result of concluding the Annex, the value of the entire Agreement to 31 December 2016 currently amounts to PLN 977.3 million (i.e. 21.4% more compared to the amount of the current report No. 18/2015 of 22 June 2015).
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
Date of preparation: 31 August 2015
Subject: Concluding Annex to the Significant Agreement with PGNiG Termika S.A.
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 (“Company) hereby informs you that on 31 August 2015 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. The Agreement concerns coal supplies provided by the Company between 2013 and 2015 for the purposes of, among others, Żerań Heat and Power Station and Siekierki Heat and Power Station, both owned by PGNiG Termika S.A.
The Agreement was referred to in Current Reports Nos. 13/2012 of 23 April 2012, 13/2013 of 29 April 2013, 14/2013 of 28 May 2013, 28/2013 of 5 July 2013, 6/2014 of 24 April 2014, 14/2014 of 31 July 2014, 17/2014 of 25 September 2014, 19/2014 of 14 November 2014 and 18/2015 of 22 June 2015.
The Annex concerns the extension of the term of the Agreement until 31 December 2016 (previously 31 December 2015), and the terms and conditions of supplies in 2016.
As a result of concluding the Annex, the value of the entire Agreement to 31 December 2016 currently amounts to PLN 977.3 million (i.e. 21.4% more compared to the amount of the current report No. 18/2015 of 22 June 2015).
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