26/2019
26/2019
Concluding an annex to the agreement with Grupa Azoty Zakłady Azotowe Puławy S.A.
Current Report No. 26/2019
Date of preparation: 20 November 2019
Subject: Concluding an annex to the agreement with Grupa Azoty Zakłady Azotowe Puławy S.A.
General legal basis: Article 17.1 of the MAR Regulation - Inside Information
Content:
The Management Board of LW Bogdanka S.A. with registered office in Bogdanka (“Company”) hereby announces that on 20 November 2019 an Annex was signed to the Long-Term Agreement on the Sale of Thermal Coal of 8 January 2009, concluded between the Company and Grupa Azoty Zakłady Azotowe Puławy S.A. with registered office in Puławy.
The Agreement applies to the following Current Reports: Current Report No. 29/2009 of 25 November 2009, No. 26/2011 of 5 December 2011, No. 55/2012 of 28 December 2012, 21/2013 of 10 June 2013, No. 20/2014 of 17 December 2014, No. 48/2015 of 25 November 2015, No. 40/2016 of 6 December 2016, No. 24/2017 of 10 October 2017, No. 6/2018 of 26 February 2018 and No. 29/2018 of 19 November 2018.
The subject matter of the Agreement is the sale of thermal coal to Grupa Azoty Zakłady Azotowe Puławy S.A.
As a result of the Annex, the price of supplies for 2020 has been agreed upon, and the term of the Agreement has been extended until 31 December 2025.
As a result of concluding the Annex, the estimated value of the Agreement from the moment it has been concluded until 31 December 2025 (without regard to possible increases, deviations and tolerance) will amount to PLN 1,855 million net (i.e. 20.92% more than specified in Report No. 29/2018 of 19 November 2018), out of which the anticipated value for the period 2020-2025 will amount to PLN 844 million net.
Other terms and conditions of the Agreement remain unchanged and do not differ from market standards applied in such agreements.
The criterion for deeming the Agreement material is the increase in its value and the extension of cooperation with one of the Company’s key customers.
Date of preparation: 20 November 2019
Subject: Concluding an annex to the agreement with Grupa Azoty Zakłady Azotowe Puławy S.A.
General legal basis: Article 17.1 of the MAR Regulation - Inside Information
Content:
The Management Board of LW Bogdanka S.A. with registered office in Bogdanka (“Company”) hereby announces that on 20 November 2019 an Annex was signed to the Long-Term Agreement on the Sale of Thermal Coal of 8 January 2009, concluded between the Company and Grupa Azoty Zakłady Azotowe Puławy S.A. with registered office in Puławy.
The Agreement applies to the following Current Reports: Current Report No. 29/2009 of 25 November 2009, No. 26/2011 of 5 December 2011, No. 55/2012 of 28 December 2012, 21/2013 of 10 June 2013, No. 20/2014 of 17 December 2014, No. 48/2015 of 25 November 2015, No. 40/2016 of 6 December 2016, No. 24/2017 of 10 October 2017, No. 6/2018 of 26 February 2018 and No. 29/2018 of 19 November 2018.
The subject matter of the Agreement is the sale of thermal coal to Grupa Azoty Zakłady Azotowe Puławy S.A.
As a result of the Annex, the price of supplies for 2020 has been agreed upon, and the term of the Agreement has been extended until 31 December 2025.
As a result of concluding the Annex, the estimated value of the Agreement from the moment it has been concluded until 31 December 2025 (without regard to possible increases, deviations and tolerance) will amount to PLN 1,855 million net (i.e. 20.92% more than specified in Report No. 29/2018 of 19 November 2018), out of which the anticipated value for the period 2020-2025 will amount to PLN 844 million net.
Other terms and conditions of the Agreement remain unchanged and do not differ from market standards applied in such agreements.
The criterion for deeming the Agreement material is the increase in its value and the extension of cooperation with one of the Company’s key customers.