Current reports

Current reports

Current reports

Current report no. 14/2016

Conclusion of contracts with Alpiq Energy SE, 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 12 April 2016, the Company obtained information that the joint estimated value of the contracts concluded between entities of the ZE PAK S.A. Group and Alpiq Energy SE in the 12 months preceding the date of publication of this report, amounted to 188,6 million PLN net.


A contract with the greatest value is the agreement no 1/CO2/PAK/ALPIQN/2015 signed on 16 December 2015 between Company and Alpiq Energy SE ("the Agreement"). The subject of the Agreement is purchase or sale of units entered the Kyoto Protocol and Directive 2003/87/WE as amended (EUA, CER, ERU) - under the Community trading scheme for emissions. The value of transactions contained under the Agreement during the period covered by this report amounts to 59,7 million PLN.


In the cases as specified in the Agreement, both sides of the contract are entitled to charge each other with the compensations and offsets for non-performance or improper performance of the contract with an amount that may exceed the equivalent of 10% of the estimated Agreement value, and the final amount will be limited to actual damages excluding lost profits


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:

Aleksander Grad – President of the Management Board

Adrian Kaźmierczak – Vice President of the Management Board