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Current report: 17/2014 - The signing of a significant agreement by the Issuer

Date: 2014-04-03 / Legal ground: Art. 56 sec. 1 p. 2 Act on Public Offering – current and periodic information

Current Report: 17/2014

Subject: The signing of a significant agreement by the Issuer
Date: 2014-04-03
Legal ground: Art. 56 sec. 1 p. 2 Act on Public Offering – current and periodic information

The Board of CHEMOSERVIS-DWORY S.A. (“the Issuer”, “the Company”, “the Orderer”) informs, that, on the April 3rd 2014, awarded a contract to the company CENZIN Sp. z o.o. (“the Contractor”), based in Warsaw, for the supply of a new desulphurisation installation of combustion gases from the boiler No. 9 for Synthos Dwory 7 Sp. z o.o. Sp.j. for remuneration 22.594.000,00 PLN. The contract completion date is scheduled for the November 30th 2015.

The agreement provides for the following penalties to the Contractor:

1. For not joining the removal of defects or not meeting the deadline of the removal of defects during the period of the guarantee and the warranty in the amount of 500,00 PLN for each day of delay;

2. 20 % of the net remuneration in the event of withdrawal from the agreement by the Orderer due to gross negligence specified in the agreement;

3. For guaranteed technical parameters:

  • the concentration of sulphur dioxide (SO2), in the exhaust emissions in a specific place of measurement by the Contractor, exceeds 120 mg/Nm3 (monthly average) dry flue gases in the contractual conditions at 6 % volume fraction of O2 – the penalty in the amount imposed on Synthos Dwory 7 by an entitled administrative authority in the field covered the agreement;
  • for each full 5 % exceeding of actual consumption of the sorbent with respect to the reference fuel with parameters and on conditions specified in the agreement – the contractual penalty in the amount of 5.000,00 PLN;
  • for each increment 10kW increased power consumption of installation for their own needs over the guaranteed value – the one-off penalty in the amount of not more than 2.000,00 PLN;
  • for each increment full 5 % exceeding of actual consumption of industrial water over the guaranteed value – the one-off penalty in the amount of not more than 1.000,00 PLN;
  • for each increment full 5% consumption of heat in the form of process steam over the guaranteed value – the one-off penalty in the amount of not more than 150.000,00 PLN;
  • for failure to achieve the guaranteed availability of the installation for each commenced 1 percentage point of reduction – the contractual penalty in the amount of 300.000,00 PLN in the first year of operation, 400.000,00 PLN in the second year of operation;
  • the guaranteed amount of solid waste, calculated on “dry weight” in relation to the reference fuel, will be exceeded by 5 % - the contractual penalty in the amount of not more than 10.000,00 PLN, provided that raw materials and coal were consistent with output data and electrostatic precipitators were efficient;
  • the quality of the produced magnesium sulphate won’t be kept – the one-off contractual penalty in the amount of not more than 500.000,00 PLN, provided that the installation work was consistent with the instruction of the Contractor, and in the flue gas introduced into the installation was not more than 2 mg NH3/Nm3;
  • the quality of the produced magnesium chloride won’t be kept – the one-off penalty in the amount of not more than 30.000,00 PLN, provided that the quality of the combusted coal has a composition consistent with the reference coal;

4. 0,2 % of the net remuneration for each commenced week of delay in non-compliance with the deadline, established in the agreement, of takeover of the installation to the operation.

The total amount of penalties may not exceed 25 % of the net remuneration.

The criterion of the significant agreement follows from exceeding 10% of the equity capital CHEMOSERVIS       -DWORY S.A. on the December 31st 2013.

Legal ground: § 5 paragraph 1 subparagraph 3 of Regulation of Ministry of Finance from the February 19th 2009 on current and periodic information submitted by issuers of securities and conditions for recognition as equivalent information required by the law of a non-member country as equal.
 

 


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CHEMOSERVIS-DWORY S.A. zarejestrowana w Sądzie Rejonowym w Krakowie, KRS 0000287238, NIP 549-19-11-468, REGON 070889223. Kapitał zakładowy opłacony w całości: 20.006.000 PLN.
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