Current Report 10/2011
Subject:
The conclusion of a significant agreement by a subsidiary of the Issuer - Bioenergia Invest SA
Legal basis:
Article 56 paragraph 1 item 2 of the Act on Public Offering - current and periodic information
Contents of the report:
The Management Board of POL-MOT Warfama SA announces that on May 9,2011 the Issuer has learned that on April 29, 2011 the subsidiary of the Issuer - Bioenergia Invest SA in Dobre Miasto (Seller) signed with the company ENERGA Elektrownie Ostrołęka SA in Ostroleka (the Recipient) and the Ekologiczne Materiały Grzewcze sp. z o.o. in Szepietowo (Buyer) the Framework Agreement for the purchase of agricultural biomass. The subject of the contract for the sale by Bioenergia Invest SA in favor of Ekologiczne Materiały Grzewcze sp. z o.o. together with delivery to ENERGA Elektrownie Ostrołęka SA agricultural biomass under the conditions indicated in the Framework Agreement and under the conditions described in the Biomass Supply Contracts concluded in subsequent periods. The agreement will be applicable from 01.01.2012 to 31.08.2026, however, either party may terminate the agreement with the 12-month notice period. The parties agreed the twelve-month period. The contract may be renewed for further periods. Party which withdraws from the contract without notice shall pay to the other party a penalty of 10% of the gross value of the total amount of biomass supply for the next period. During the contract period Bioenergia Invest SA will sell to Ekologiczne Materiały Grzewcze sp. z o.o. and provide to ENERGA Elektrownie Ostrołęka S.A. about 900 thousand tons of agricultural biomass. Price, schedule, volume and details of orders and any additional penalties will be determined in the Biomass Supply Agreement. The First Biomass Supply Agreement parties shall conclude to the 31.12.2011. and other Biomass Supply Agreements for subsequent periods will be concluded up to 31 August each year of the Framework Agreement. Parties reserve that if the Biomass Supply Agreement for the first period wouldn’t be concluded before 31.12.2011, the Framework Agreement will not enter into force.
Other terms are similar to those commonly used for contracts for the sale of biomass. Although the selling price of biomass will be determined separately for each period, the contract was considered to be significant due to the fact that the total estimated value exceeds 10% of the equity of the Issuer.
The legal basis:
Pursuant to § 5 section 1 point 3 in conjunction with § 9 of the Minister of Finance Regulation of 19 February 2009 on current and periodic reporting by issuers of securities and the rules of equal treatment of the information required by the laws of non-member states (Journal of Laws of 2009 No. 33, item 259, later amended).
