Topic: Contraction of material agreement. Date: 2009-03-20 Legal ground: Art. 56 ust.1 pkt. 2 Act on Public Offering – current and periodical information

Current report: RB 9/2009

Topic: Contraction of material agreement.

Date: 2009-03-20
Legal ground: Art. 56 ust.1 pkt. 2 Act on Public Offering – current and periodical information

Message:

The Board of Chemoservis-Dwory SA hereby informs that on March 20th, 2009 the Company has signed with Energetyka – Dwory Sp. z o.o. agreement for complex supply and assemble of volatile askes silo with total capacity of 1000 m³ together with bonding and instrumentation necessary.

Chemoservis-Dwory S.A.’s renumeration according to the agreement is PLN 2.000.000 + VAT.

The Executor will receive from the Orderer 15% of this renumeration, equal to PLN 300 000 net in advance, in 30 days from the date of agreement. Executor will submit to the Orderer in blanco bill and bill declatation to secure money received in advance.

The Executor will submit to the Orderer safeguard of proper execution of the agreement, ammounted to 25% of renumeration, in 14 days from the date of the agreement. Form of safeguard may be chosen by the Executor, it may be covered in cash or bank or insurance guarantee.

If the agreement will be canceled by the Executor, due to reasons depending on the Executor, the Orderer will be entitled to receive from the Executor penalty of 10% of the agreement.

The Executor will pay to the Orderer for any delays in realization of the agreement, the penalty ammounts of 0,1 % of the agreement for each day of delay, but not more than 10% of the agreement.

The Executor for the delay in removing detected defects, will pay to the Orderer penalty of 0,1 % of the agreement value for each day of delay, but not more than 10% of its renumeration.

Parties may claim for compensation higher than penalties describes, on the general basis.

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

Specific of the Company’s business and structure of its customers results in a large number of agreements with its dominant customer and its subsidiaries during the year.

The Issuer hereby informs that in last twelve months it has signed a total number of 88 agreements and orders with Synthos-Dwory Sp. z o.o. which is a part of SYNTHOS S.A. Capital Group, and with its subsidiaries including Energetyka Dwory Sp. z o.o.,

The total value of agreements and orders realized for Synthos-Dwory Sp. z o.o. as a part of SYNTHOS S.A. Capital Group and its subsidiaries including Energetyka Dwory Sp. z o.o., reached in last twelve months level of PLN 7.686.496,14.

Legal ground of this report is § 5 ust. 1 pkt 3 of Regulation of Ministry of Finance from February 19th, 2009 on current and periodical reports published by issuers of securities and requirements of recognition of information required by law of non-member countries as equal (Dz. U. Nr 33 z 2009 roku poz. 259).