Current Report No. 50/2014

Belongs to:

  • Reports

Date of preparation: 30 December 2014 

Topic: Conclusion of annex to material agreement with LW ‘Bogdanka’ S.A. 

Legal grounds: Art. 56 section 1 pt. 2 of the Act on Offerings – current and periodic information

 

The Management Board of Energa SA (‘Company’, ‘Issuer’) announces that on 30 December 2014 the Company  has been notified on the signing by its indirect subsidiary ENERGA Elektrownie Ostroleka SA (‘EEO’) of an annex (‘Annex’) to the Long-term coal supply agreement (‘Agreement’) concluded on 14 December 2010 with Lubelski Wegiel ‘Bogdanka’ S.A. (‘LWB’), whereby the parties agreed terms of delivery for 2015. The Agreement, to which the Annex was signed, had been described in the Company’s Issue Prospectus approved by the Polish Financial Supervision Authority on 15 November 2013. According to the Agreement concluded for a fixed period from 1 January 2011 until 31 December 2015 LWB is obligated to deliver to EEO the amount of coal agreed for each calendar year for a negotiated price. 

As a result of signing the Annex the Agreement’s value decreased 4.25% as compared with 2014 and equals PLN 1,141 million net (say: one billion one hundred forty one million zloty). The remaining terms of the Agreement have not been amended and do not defer from those applied in this type of contracts. 

The criterion of considering the Agreement material is its value exceeding 10% of the Issuer’s equity.

 

Legal grounds:

§5 section 1 point 3 of the Minister of Finance Decree dated 19 February 2009 on current and periodic information disclosed by issuers of securities and conditions for recognizing as equivalent information required by the laws of a non-member state.

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