The Executive Board of Polish Energy Partners Spółka Akcyjna (hereinafter referred to as “the Company”) hereby informs that on 25 July 2005, the Company’s subsidiary – Saturn Management Spółka z o.o. i Wspólnicy, Spółka Komandytowa (hereinafter referred to as “SM”) concluded a contract for technical services, supplies and construction works (“the Contract”) with Alstom Power Spółka z o.o. (“the Contractor”).
Under the said Contract, the Contractor shall construct, deliver and sell to SM a complete, assembled and ready-to-work steam turbo-generator and render all other services related thereto.
Value of the contract: PLN 38,600k.
In the cases provided for in the Contract, the Contractor shall pay agreed penalties to SM, but not exceeding 20% of the total contractual amount.
The Contract has been signed subject to the following suspensive conditions:
1) SM pays an advance payment to the Contractor;
2) The Contractor submits a bank performance bond to SM;
3) The Lending Bank notifies SM that all relevant financial documents have been signed and all conditions required to receive assets have been met, apart from the condition whereby SM shall present a valid building permit.
The said agreement was considered material as its value exceeds 10% of the Company’s shareholders’ equity.
Value of the contract in PLN ‘000: 38 600.00
Legal basis:
§ 5 section 1 item 3 of the Ordinance by the Council of Ministers on current and interim information provided by issuers of securities – conclusion or amendment of a material agreement
Signatures:
Anna Kwarcińska – Member of the Executive Board
Wojciech Cetnarski – Vice President of the Executive Board
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