Topic: Contraction of material agreement Date: 2009-03-13 Legal ground: Art. 56 ust.1 pkt. 2 Act on Public Offering – current and periodical information

Current report: RB 7/2009

Topic: Contraction of material agreement

Date: 2009-03-13
Legal ground: Art. 56 ust.1 pkt. 2 Act on Public Offering – current and periodical information

Message:

The Board of Chemoservis-Dwory S.A. with its registered office in OÅ›wiÄ™cim, according to §5 ust.1 pkt 3) of Regulation of Ministry of Finance from October 19th, 2005 about current and periodical information published by issuers of securities (Dz.U. nr 209 poz.1744), basing on information annexed on August 4th, 2008 regarding choice of Issuer’s offer, hereby informs that on March 12th, 2009 it has signed agreement no 01/09/I-PM/MA/RD with ZakÅ‚ady Azotowe KÄ™dzierzyn SA with its registered office in KÄ™dzierzyn Koźle. The subject of the agreement is investment task: Realization of modernization of D-201 absorbtion column junction, that includes design, realization, supply and assemble of apparatuses with pipes in Synthesis Gas Factory. The value of agreement is PLN 2.900.000 net + VAT. According the agreement its value may be increased if any additional work connected with adjustment of pipelines realized in stage I to new column, realized in state II, will be made. Account of additional work, not covered by the agreement, will be conducted according to subcontract calculation and conditions agreed in the agreement. Parties agreed that the agreement will be realized in two stages: I – end of stage I – on June 28th, 2009 and II – end of stage II on July 31st,2010. The Issuer will hedge proper realization of the agreement with the bank or insurance guarantee of 5%  of the agreement value, according to conditions agreed in the agreement. The agreement contains information that the maximum value of penalties if the agreement will not be realized or relized inproperly, can not exceed 10% of the net value of agreement. If the value of penalties will not cover damages, parties may approach fro additional compensation.

Criteria of material agreement is asising from crossing the level of 10% of Chemoservis-Dwory SA’s revenues for last four quarters.