21.10.2010
Conclusion of the commercial agreement with Ferrum SA
On October 21, 2010 Stalprofil SA entered into the commercial agreement with the company Ferrum SA seated in Katowice (Seller), the purpose of which is the purchase by Stalprofil SA (Buyer) of the steel pipes produced by the seller and applicable for the construction of gas transmission networks, of the gross value of approx. PLN 16,000,000 (net value of PLN 13,079,300 with a tolerance of 0.3%).
The steel pipes will be delivered by the seller to Stalprofil S.A. starting from October 2010 to January 2011.
The financial conditions of the concluded agreement do not differ from the terms used commonly in such contracts.
The agreement includes the following contractual penalty clauses:
a) the Seller shall pay the contractual penalty to the Buyer for the failure to meet the delivery terms in the amount of 0.5% of the net price of the delayed delivery batch for each full day of delay. On no account shall the contractual penalty arising therefrom exceed 8.0% of the agreement value.
b) the Buyer shall pay to the Seller the contractual penalty for delay in the receipt of the contractual Object in the amount of 0.5% of the net price of the pipes batch that has not been collected for each full day of delay. On no account shall the contractual penalty arising therefrom exceed 8.0% of the Agreement\'s value.
c) the Seller shall pay to the Buyer the contractual penalty for withdrawal from the agreement for reasons attributable to the Seller, in the amount of 25% of the price of the contractual remuneration specified in this agreement.
d) the Seller shall pay to the Buyer the contractual penalty for delay in rectification of defects attributable to the Seller in the amount of 1% of the price of the delivery considered defective, for each day of delay calculated from the day indicated as the day of rectifying the defect. On no account shall the contractual penalty arising therefrom exceed 8% of the contractual price.
e) the Buyer shall pay to the Seller the contractual penalty for withdrawal from the agreement for reasons attributable to the Buyer in the amount of 25% of the contractual remuneration specified in this agreement.
Irrespective of the contractual penalties, the Parties may claim some supplementary compensation - up to the amount of the incurred damage, on general principles. The above-mentioned regulations are not applicable for a force majeure event.
The concluded agreement fulfills the conditions of a significant agreement, as the total value exceeds 10% of the issuer\'s equity.
Legal basis: §5 clause 1 item 3 of the Ordinance of the Minister of Finance of February 19, 2009 regarding current and regular information provided by issuers of securities (...)
The steel pipes will be delivered by the seller to Stalprofil S.A. starting from October 2010 to January 2011.
The financial conditions of the concluded agreement do not differ from the terms used commonly in such contracts.
The agreement includes the following contractual penalty clauses:
a) the Seller shall pay the contractual penalty to the Buyer for the failure to meet the delivery terms in the amount of 0.5% of the net price of the delayed delivery batch for each full day of delay. On no account shall the contractual penalty arising therefrom exceed 8.0% of the agreement value.
b) the Buyer shall pay to the Seller the contractual penalty for delay in the receipt of the contractual Object in the amount of 0.5% of the net price of the pipes batch that has not been collected for each full day of delay. On no account shall the contractual penalty arising therefrom exceed 8.0% of the Agreement\'s value.
c) the Seller shall pay to the Buyer the contractual penalty for withdrawal from the agreement for reasons attributable to the Seller, in the amount of 25% of the price of the contractual remuneration specified in this agreement.
d) the Seller shall pay to the Buyer the contractual penalty for delay in rectification of defects attributable to the Seller in the amount of 1% of the price of the delivery considered defective, for each day of delay calculated from the day indicated as the day of rectifying the defect. On no account shall the contractual penalty arising therefrom exceed 8% of the contractual price.
e) the Buyer shall pay to the Seller the contractual penalty for withdrawal from the agreement for reasons attributable to the Buyer in the amount of 25% of the contractual remuneration specified in this agreement.
Irrespective of the contractual penalties, the Parties may claim some supplementary compensation - up to the amount of the incurred damage, on general principles. The above-mentioned regulations are not applicable for a force majeure event.
The concluded agreement fulfills the conditions of a significant agreement, as the total value exceeds 10% of the issuer\'s equity.
Legal basis: §5 clause 1 item 3 of the Ordinance of the Minister of Finance of February 19, 2009 regarding current and regular information provided by issuers of securities (...)