Current report: RB 45/2009 Topic: Conclusion of an significant agreement by the Issuer Date: 2009-09-23 Legal ground: Art. 56 sec.1 p. 2 Act on Public Offering – current and periodic information

Current report: RB 45/2009

Topic: Conclusion of an significant agreement by the Issuer

Date: 2009-09-23
Legal ground: Art. 56 sec.1 p. 2 Act on Public Offering – current and periodic information

Message:

The Board of Chemoservis-Dwory S.A. („the Issuer”, „the Company”) informs that on September 22, 2009 the Company, acting as General Executor (GE) concluded agreement no ZEN/14/BT/565609/2009 with Executor - ZakÅ‚ad Energetyczny ZEN Sp. z o.o. with its registered office in DÄ…browa Górnicza, Al. J. PiÅ‚sudskiego 92. Subject of this agreement are labor and delivery within mechanic branch needed for completion of Vegetable Oil’s Methyl Ester Factory construction which planned production is to reach up to 200 000 tonnes/year for Bioagra – Oil with its registered office in Tychy, ul. PrzemysÅ‚owa 64.

    The subject of the agreement will be executed for the lump sum of PLN 2 900 000.00 + VAT.

    For surety of proper execution of the agreement, GE - Chemoservis-Dwory SA, each time will hold 10% of net value arising from partial/final receipt protocols that will be used for invoicing.

    For surety of proper execution of the agreement in the guarantee period the executor - - ZakÅ‚ad Energetyczny ZEN Sp. z o.o., will transfer bank or insurance guarantee for 10% of the agreement value for 36 month period.

Form of protection of proper execution of the agreement depends on decision of the Executor - Zakład Energetyczny ZEN Sp. z o.o.

    The Executor - ZakÅ‚ad Energetyczny ZEN Sp. z o.o., will pay to GE - Chemoservis-Dwory SA contract penalty for delay in date of realization and delay in liquidation of defect of the agreement subject, in the sum not exceeding 15% of the agreement’s net value.

    The Executor - ZakÅ‚ad Energetyczny ZEN Sp. z o.o., will pay to GE - Chemoservis-Dwory SA cancelling price, due to reasons laying on the Executor side, in the sum equal to 15% of the agreement’s net value.

    GE - Chemoservis-Dwory SA will pay to the Executor - ZakÅ‚ad Energetyczny ZEN Sp. z o.o., contract penalty for delay in transmission of building site or its agreed part or for making start of works impossible or for causing pause or delay in execution of the Executor commitments due to other reasons, under the condition that these reasons will be GE guilty, in the sum not exceeding 15% of the agreement net value.

    GE - Chemoservis-Dwory SA  will pay to the Executor - ZakÅ‚ad Energetyczny ZEN Sp. z o.o., cancelling price, due to reasons laying on the GE side, in the sum of 10% of the agreement net value.

    GE reserved itself the right to sue for damages exceeding the value of contract penalty.

Significant agreement criterion arises from exceeding of 10% of the Issuer’s revenues in last four quarters.

Legal ground of this current report is § 5 sec. 1 p. 3 of the Resolution of the Ministry of Finance from February 19th, 2009 on current and periodic information published by the issuers of securities and on conditions of recognition of information required by the law of a non-member country as equal  (Dz. U. No 33 from 2009 pos. 259).