Current reports

Current reports

Current reports

Current report no. 29/2015

Conclusion of contracts with entities comprising ENERGA 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 5 November 2015, 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 Energa S.A. Group during last 12 months amounted to PLN 298,2 million net.


A contract with the greatest value is the Agreement No. 64/2014/PAK/ENERGA(7)/2015, signed on 11 December 2014 ("the Agreement"), concluded between Company („Seller”) and ENERGA-OBRÓT S.A.(„Buyer”) Agreement is concluded under the Framework Contract for selling electric energy No 23/12/PAK/ENERGA/2013-2015 concluded on 1 August 2012 ("the Contract"). The subject matter of the Agreement is selling of electric energy by Seller to Buyer in the period from 1 January 2015 to 31 December 2015. The estimated value of the concluded Agreement is PLN 67,2 million. The Agreement was concluded for specified time till the 31 December 2015.


In the cases as specified in the Contract, both sides of the Contract 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:

Janusz Kaliszyk –  President of the Management Board

Tomasz Zadroga – Vice President of the Management Board