Apator S.A. has concluded the significant frame contract with associated entity
The Executive Board of Apator SA announces that on 20th December 2013 Apator SA („Issuer”) signed the frame Contract („Contract”) with associated entity OOO Apator Elektro with the seat in Moscow. The Contract was concluded for 2014 and it regards the sales by the Issuer the low voltage switchgear and parts for its assembly.
The net value of the Contract is 12 m EUR i.e 50 m PLN according to the average exchange rate of the Polish National Bank dated 20th December 2013 that is 1 EUR = 4,1652 PLN. In the opinion of the Executive Board of the Issuer, the sales will be performed in 2014 in amount of 4-6 m EUR within the Contract.
The Issuer announces that the conditions of the Contract do not differ from typical conditions for such type of transactions on the market. The performance by the Issuer of the supplies will be based on particular orders placed by OOO Apator Elektro during the year with the terms of delivery of 30 days and the payment of 90 days of the date of the invoice issued by the Issuer.
The Contract has not been concluded with the reservation of date or condition.
The Contract does not include any provisions concerning liquidated damages where maximum value can exceed the equivalent at least 10% of the Contract or at least quoted in PLN, the equivalent value in amount of 200.000 EUR, according the average exchange rate announced for the currency by the Polish National Bank being in force on the day of conclusion of the Contract.
During the recent twelve months the entities of Apator Group did not conclude with OOO Apator Elektro any contract except the above one described.
The Contract has been considered as significant one due to the exceeding of the value of 10% of equities of the Issuer.
Legal base:§ 5 para 1 point 3 of the Resolution of Minister of Finance regarding current and regular information being transferred by the issuers of securities and conditions of the information to be considered as equivalent one required by law of the country not being the member of the EU.
CONTACT ON INVESTOR RELATIONS
Frequently asked questions and answers.