Polish Energy Partners S.A. (‘Company’) hereby notifies that on 23rd August 2013 the Company’s subsidiaries: (i) Grupa PEP – Farma Wiatrowa 1 Spółka z ograniczoną odpowiedzialnością (‘GPFW1’) and (ii) Grupa PEP – Farma Wiatrowa 6 Spółka z ograniczoną odpowiedzialnością (‘GPFW6’) concluded, each separately, agreements with a consortium of companies: ELECTRUM Sp. z o.o. and Zakład Wykonawstwa Sieci Elektrycznych MEGA-POL S.A. (‘Agreements’).
The Agreements refer to execution by the contractors to the benefit of GPFW1 of: complex assembly and electroenergetic works as well as construction works for Gawłowice subscriber terminal together with a MV cable network and a fiber-optic one for the purposes of implementation of Gawłowice Wind Farm, and to the benefit of GPFW6 of: complex assembly and electroenergetic works as well as construction works for Rajgród subscriber terminal together with an MV cable network and a fiber-optic one for the purposes of implementation of Rajgród Wind Farm.
The value of the Agreement concluded by GPFW1 is PLN 15 150 000.00, whereas the value of the Agreement concluded by GPFW6 is PLN 18 700 000.00.
The total amount of stipulated penalties potentially due from the contractors under each of the Agreements shall not exceed 30% of the gross value of each Agreement.
Since the total value of the Agreements exceeds 10% of the Company’s equities, they were classified as material ones.
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