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Apator Powogaz – subsidiary and Raiffeisen Bank Polska SA have concluded important contracts

Nr 35/2015
Date and time: 2015/07/14, 00:00
Category: Concluded contracts

The Management Board of Apator SA ("Issuer") announces that on 13th July 2015 subsidiary of the Issuer - Apator Powogaz SA with headquarters in Poznań ("Company") and the Raiffeisen Bank Polska SA („Bank”) concluded:

-      annex no 3 to additional contract  of currency transactions based on which the limit for  derivative transactions was decreased from the amount of PLN 18,2 m to the amount of PLN 11,2 m,
-      additional contract of replacement transaction establishing the limit for replacement transactions of interest rate swap (IRS) in amount of PLN 7 m.

In order to hedge the receivables of the Bank based on the above contracts, the Company has signed the following declarations:

-      declaration of subject to enforcement in the scope of obligations arising out of the contract of derivative transactions to the amount of PLN 16,7 m that replaces the declaration of the subject to enforcement  to the amount of PLN  27,2 m dated 9th February 2015,
-      declaration of the subject to enforcement in the scope of obligations arising out of the contract of IRS transactions to the amount of PLN 10, 5 m.

The conditions of the above contracts do not differ from typical ones for such kind of transactions on the market. Moreover, the contracts were concluded without any provisions concerning the reservation of term and date and they do not include any provisions concerning liquidated damages.

The Contract and declarations have been considered as important ones due to the fact that they exceeded in total the value of 10% of equity of the Issuer.

Legal basis: § 5 para 1 point 3 of the Regulation of Minister of Finance dated 19th February 2009 regarding current and regular information being transferred by the issuers of securities and conditions to be considered as equivalent information  required by law of the state not being the member of the EU (Journal of Laws No. 33 item 259 with amendments)

The Management Board of Apator SA ("Issuer") announces that on 13th July 2015 subsidiary of the Issuer - Apator Powogaz SA with headquarters in Poznań ("Company") and the Raiffeisen Bank Polska SA („Bank”) concluded:

-      annex no 3 to additional contract  of currency transactions based on which the limit for  derivative transactions was decreased from the amount of PLN 18,2 m to the amount of PLN 11,2 m,
-      additional contract of replacement transaction establishing the limit for replacement transactions of interest rate swap (IRS) in amount of PLN 7 m.

In order to hedge the receivables of the Bank based on the above contracts, the Company has signed the following declarations:

-      declaration of subject to enforcement in the scope of obligations arising out of the contract of derivative transactions to the amount of PLN 16,7 m that replaces the declaration of the subject to enforcement  to the amount of PLN  27,2 m dated 9th February 2015,
-      declaration of the subject to enforcement in the scope of obligations arising out of the contract of IRS transactions to the amount of PLN 10, 5 m.

The conditions of the above contracts do not differ from typical ones for such kind of transactions on the market. Moreover, the contracts were concluded without any provisions concerning the reservation of term and date and they do not include any provisions concerning liquidated damages.

The Contract and declarations have been considered as important ones due to the fact that they exceeded in total the value of 10% of equity of the Issuer.

Legal basis: § 5 para 1 point 3 of the Regulation of Minister of Finance dated 19th February 2009 regarding current and regular information being transferred by the issuers of securities and conditions to be considered as equivalent information  required by law of the state not being the member of the EU (Journal of Laws No. 33 item 259 with amendments). 

CONTACT ON INVESTOR RELATIONS

Contact person for institutional investors and analysts

cc group - Katarzyna Mucha

Mobile +48 697 613 712

katarzyna.mucha@ccgroup.pl

Director for Management and Promotion of Apator Group

Jolanta Dombrowska

Mobile +48 56 61 91 228

ri@apator.com

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