Current Report No.: 11/2012
Date:
03.29.2012
The total value of contracts concluded by Energomontaż-Południe S.A. with RAFAKO S.A. exceeding the threshold of 10 percent of the Issuer’s equity
During the period in question, the contract with the highest value was one concluded on 1 December 2011 at a value of approximately PLN 7.9 million, the subject of which was the prefabrication and delivery of steel constructions for the modernisation and overhaul by RAFAKO S.A. of rotating air heaters for power units 7-12 at PGE Elektrownia Bełchatów S.A.
The contract is to be implemented in six stages from 1 February 2012 to 10 September 2015.
Under the terms of this contract, the total amount of contractual penalties for any and all of the reasons envisaged therein cannot exceed 10 percent of the gross value of the contract. Payment of contractual penalties does not preclude the rights of the contracting parties to seek compensation under the general terms of the Civil Code.
The remaining conditions of the contract do not differ from those generally applied in this type of contract. The Issuer regards 10 percent of its equity as the criterion for considering the total value of contracts to be significant.
At the same time, the Company wishes to note that RAFAKO S.A. is the dominant shareholder of the Issuer, holding 64.84 percent of the Company's share capital /voting rights under shares.
Detailed legal basis: Clause 5 par. 1 pt. 3 of the Regulation of the Minister of Finance on current and periodic information published by issuers of securities (...) of 19 February 2009.
Legal grounds: Article 56 par. 1 pt. 2 of the Act on Offerings - current and periodic information
Attachment:
| Current Report No. 11/2012 |  0,06 MB |
