30/2018
30/2018
Concluding an annex to the agreement with Enea Elektrownia Połaniec S.A.
Current Report No. 30/2018
Date of preparation: 19 December 2018
Subject: Annex to the agreement with Enea Elektrownia Połaniec 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 (the “Company”, the “Seller”) hereby announces that on 19 December 2018 it concluded an Annex to Agreement No. 3/W/2012 on the sale of thermal coal (the “Agreement”) between the Company and Enea Elektrownia Połaniec S.A. (the “Buyer”) with registered office in Zawada 26, 28-230 Połaniec.
The Agreement applies to the following Current Reports: Current Report No. 41/2012 of 12 July 2012, No. 31/2013 of 30 August 2013, No. 38/2013 of 31 October 2013, 40/2013 of 18 November 2013, No. 21/2014 of 17 December 2014, No. 50/2015 of 7 December 2015, No. 35/2016 of 30 August 2016 and No. 37/2016 of 30 September 2016.
The Annex defines the price of thermal coal for deliveries made to the Buyer in 2019.
The estimated value of the entire Agreement in the years 2013-2021 after the conclusion of the aforementioned Annex amounts to PLN 3,563 million net and is 4.8% higher than the amount published in Report No. 37/2016 of 30 September 2016. The amount specified in the previous sentence includes additional volume options of about PLN 225 million to be used by the Parties between 2019 and 2021.
The Agreement value in the years 2019-2021 has a net value of PLN 1,475 million, including the above-mentioned additional options and is 13.4% higher than the Agreement value for that time period, recognised in the entire Agreement value mentioned in Report No. 37/2016.
Other terms and conditions of the Agreement remain unchanged and do not differ from the market standards applied in such agreements.
The Management Board treats the above information as significant given the level of importance of the changes to the parameters of the Agreement affecting the Company’s operations.
Date of preparation: 19 December 2018
Subject: Annex to the agreement with Enea Elektrownia Połaniec 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 (the “Company”, the “Seller”) hereby announces that on 19 December 2018 it concluded an Annex to Agreement No. 3/W/2012 on the sale of thermal coal (the “Agreement”) between the Company and Enea Elektrownia Połaniec S.A. (the “Buyer”) with registered office in Zawada 26, 28-230 Połaniec.
The Agreement applies to the following Current Reports: Current Report No. 41/2012 of 12 July 2012, No. 31/2013 of 30 August 2013, No. 38/2013 of 31 October 2013, 40/2013 of 18 November 2013, No. 21/2014 of 17 December 2014, No. 50/2015 of 7 December 2015, No. 35/2016 of 30 August 2016 and No. 37/2016 of 30 September 2016.
The Annex defines the price of thermal coal for deliveries made to the Buyer in 2019.
The estimated value of the entire Agreement in the years 2013-2021 after the conclusion of the aforementioned Annex amounts to PLN 3,563 million net and is 4.8% higher than the amount published in Report No. 37/2016 of 30 September 2016. The amount specified in the previous sentence includes additional volume options of about PLN 225 million to be used by the Parties between 2019 and 2021.
The Agreement value in the years 2019-2021 has a net value of PLN 1,475 million, including the above-mentioned additional options and is 13.4% higher than the Agreement value for that time period, recognised in the entire Agreement value mentioned in Report No. 37/2016.
Other terms and conditions of the Agreement remain unchanged and do not differ from the market standards applied in such agreements.
The Management Board treats the above information as significant given the level of importance of the changes to the parameters of the Agreement affecting the Company’s operations.