27/2021
27/2021
Conclusion of Amendments to Agreements with Enea Elektrownia Połaniec S.A.
Current Report No. 27/2021
Date of preparation: 16 December 2021
Subject: Conclusion of Amendments to Agreements with Enea Elektrownia Połaniec S.A.
General legal basis: Article 17.1 MAR – Inside Information.
Content:
The Management Board of LW Bogdanka S.A. with registered office in Bogdanka (the “Company”, the “Seller”) hereby announces that on 16 December 2021 it concluded an Amendment to the Agreement for sale of thermal coal No. 3/W/2012 dated 12 July 2012 (the “Long-Term Agreement”) with Enea Elektrownia Połaniec S.A. (the “Buyer”) with registered office at the address: Zawada 26, 28-230 Połaniec.
The Long-Term Agreement was referred to in current reports published from 2012 to 2021, with the most recent information concerning amendments thereto having been made public in Report No. 4/2021 published on 22 January 2021, Report No. 20/2021 published on 9 July 2021, and Report No. 24/2021 published on 4 October 2021.
As a result of concluding the Amendment, the term of the Long-Term Agreement was extended until 31 December 2026 (previously 31 December 2024), and, in consequence, the Long-Term Agreement now covers thermal coal supplies in the period 2013–2026. The Amendment also specifies the volumes and terms and conditions of these supplies (including prices) for each year during the term of the Long-Term Agreement.
The estimated net value of the entire Long-Term Agreement in the years 2013-2026 after the conclusion of the aforementioned Amendment amounts to PLN 5,196 million and is 24.81% higher than the amount published in Report No. 24/2021 of 4 October 2021. The amount specified in the previous sentence includes additional volume options of about PLN 336 million to be used by the Parties between 2022 and 2026.
In the years 2022-2026 alone the Long-Term Agreement has a net value of PLN 2,358 million, including the abovementioned additional options.
The Management Board treats the above information as significant given the dominant share of the recipient in the Company’s supply portfolio.
Other terms and conditions of the Long-Term Agreement remain unchanged and do not differ from the market standards applied in such agreements.
Date of preparation: 16 December 2021
Subject: Conclusion of Amendments to Agreements with Enea Elektrownia Połaniec S.A.
General legal basis: Article 17.1 MAR – Inside Information.
Content:
The Management Board of LW Bogdanka S.A. with registered office in Bogdanka (the “Company”, the “Seller”) hereby announces that on 16 December 2021 it concluded an Amendment to the Agreement for sale of thermal coal No. 3/W/2012 dated 12 July 2012 (the “Long-Term Agreement”) with Enea Elektrownia Połaniec S.A. (the “Buyer”) with registered office at the address: Zawada 26, 28-230 Połaniec.
The Long-Term Agreement was referred to in current reports published from 2012 to 2021, with the most recent information concerning amendments thereto having been made public in Report No. 4/2021 published on 22 January 2021, Report No. 20/2021 published on 9 July 2021, and Report No. 24/2021 published on 4 October 2021.
As a result of concluding the Amendment, the term of the Long-Term Agreement was extended until 31 December 2026 (previously 31 December 2024), and, in consequence, the Long-Term Agreement now covers thermal coal supplies in the period 2013–2026. The Amendment also specifies the volumes and terms and conditions of these supplies (including prices) for each year during the term of the Long-Term Agreement.
The estimated net value of the entire Long-Term Agreement in the years 2013-2026 after the conclusion of the aforementioned Amendment amounts to PLN 5,196 million and is 24.81% higher than the amount published in Report No. 24/2021 of 4 October 2021. The amount specified in the previous sentence includes additional volume options of about PLN 336 million to be used by the Parties between 2022 and 2026.
In the years 2022-2026 alone the Long-Term Agreement has a net value of PLN 2,358 million, including the abovementioned additional options.
The Management Board treats the above information as significant given the dominant share of the recipient in the Company’s supply portfolio.
Other terms and conditions of the Long-Term Agreement remain unchanged and do not differ from the market standards applied in such agreements.