21.09.2010
Conclusion of contract with Ferrum SA
Stalprofil SA on 21 September 2010 finalized purchase-sale contract with company Ferrum SA in Katowice (the seller), which purpose is purchase by Stalprofil SA of steel pipes manufactured by the seller for construction of gas transmission networks, the the gross value of approximately 11.8 million PLN.
Total purchases of steel pipes (gross) by Stalprofil SA from the seller, in the past 12 months exceeded the value of 10% of the equity of the issuer, reaching the value of approximately 16 million PLN gross.
Purchase-sale contract finalized on 21 September 2010 is the highest value of the transactions concluded with the contractor during the abovementioned period.
Financial terms of the contract do not deviate from the commonly used for this type of agreement.
The agreement includes the following provisions on penalties:
a) the seller shall pay the buyer a penalty for failure to meet delivery dates of 0.5% of the net price for each full day of delay in the supply. Contractual penalty in this respect in any case will not exceed 8.0% of the contract value.
b) the buyer shall pay the seller a penalty for delay in the receipt of the contracted tubes in the amount of 0.5% of the net price for each full day of delay. Contractual penalty in this respect in any case will not exceed 8.0% of the value of the contract.
c) the seller shall pay the buyer a penalty for withdrawing from the contract for reasons attributable to the seller in the amount of 25% of the contract fee specified in this agreement.
d) the seller shall pay the buyer a penalty for delay in removing defects
for reasons attributable to the seller in the amount of 1% of the price of supply of defectively made tubes, for each day of delay calculated from the date appointed for the removal of defects. Contractual penalty in this respect in no case exceeds 8% of the contract.
e) the buyer shall pay the seller a penalty for withdrawing from the contract for reasons attributable to the buyer in the amount of 25% of the contract fee specified in this agreement.
Regardless of the penalty parties may claim additional compensation - to the extent of the losses, in general terms. These provisions do not apply in case of force majeure.
Transactions contained in the past 12 months with the aforementioned contractor meet the criterion of a significant agreement because their total value exceeds 10% of the equity of the issuer.
Total purchases of steel pipes (gross) by Stalprofil SA from the seller, in the past 12 months exceeded the value of 10% of the equity of the issuer, reaching the value of approximately 16 million PLN gross.
Purchase-sale contract finalized on 21 September 2010 is the highest value of the transactions concluded with the contractor during the abovementioned period.
Financial terms of the contract do not deviate from the commonly used for this type of agreement.
The agreement includes the following provisions on penalties:
a) the seller shall pay the buyer a penalty for failure to meet delivery dates of 0.5% of the net price for each full day of delay in the supply. Contractual penalty in this respect in any case will not exceed 8.0% of the contract value.
b) the buyer shall pay the seller a penalty for delay in the receipt of the contracted tubes in the amount of 0.5% of the net price for each full day of delay. Contractual penalty in this respect in any case will not exceed 8.0% of the value of the contract.
c) the seller shall pay the buyer a penalty for withdrawing from the contract for reasons attributable to the seller in the amount of 25% of the contract fee specified in this agreement.
d) the seller shall pay the buyer a penalty for delay in removing defects
for reasons attributable to the seller in the amount of 1% of the price of supply of defectively made tubes, for each day of delay calculated from the date appointed for the removal of defects. Contractual penalty in this respect in no case exceeds 8% of the contract.
e) the buyer shall pay the seller a penalty for withdrawing from the contract for reasons attributable to the buyer in the amount of 25% of the contract fee specified in this agreement.
Regardless of the penalty parties may claim additional compensation - to the extent of the losses, in general terms. These provisions do not apply in case of force majeure.
Transactions contained in the past 12 months with the aforementioned contractor meet the criterion of a significant agreement because their total value exceeds 10% of the equity of the issuer.