Current reports
Current report no. 29/2013
Conclusion of contracts with entities comprising TAURON Capital Group which jointly meets the criteria of material contract
Legal basis:
Art. 56 section 1 point 2 of the Public Offering Act - Current and periodic information
Contents of the report:
Zespół Elektrowni "Pątnów-Adamów-Konin" S.A. ("the Company") informs that on 16 October 2013, the Company obtained information that the estimated value of the contracts concluded between entities of the ZE PAK S.A. Group and entities comprising the TAURON Polska Energia S.A. Group in the period from 26 October 2012 (i.e. from the date when the Company obtained the status of a public company) to 16 October 2013 reached PLN 322 million net.
A contract of the highest value is the Agreement No. 55/12/EPII/TAURON/(1)/2013, signed on 7 December 2012 ("the Agreement"), concluded between Elektrownia Pątnów II Sp. z o.o. („Seller”) and TAURON Polska Energia S.A. Agreement is concluded under the Framework Contract for selling electric energy No. TPE/HOU/2009/0082 of 30 April 2009 ("the Contract"). The subject matter of the Agreement is selling of electric energy by Seller in the period from 1 January 2013 to 31 December 2013. The estimated value of the concluded Agreement is PLN 108,3 million.
In the cases as specified in the Contract, both sides of the Agreement are entitled to charge each other with the compensations and offsets with an amount that may exceed the equivalent of 10% of the estimated Agreement value, and the final amount will be calculated based on the undelivered/unreceived electric energy volume and it’s price.
Other terms of the Agreement do not differ from market standards used in this type of contracts.
The criterion for recognition of the concluded contracts as material is the fact that their joint value exceeded 10% of the value of the Company's equity.
Legal basis: § 5 section 1 item 3 and § 9 of the Finance Minister’s Regulation of 19 February 2009 on the Current and Periodic Information Transmitted by Securities Issuers and the Conditions for Recognizing the Information Required by the Regulations of a Non-Member State as Equivalent
Signatures of persons representing the company:
Katarzyna Muszkat – President of the Management Board
Anna Striżyk – Vice President of the Management Board