Current report no. 11/2015
Title: Another payment received under the agreement with METEC
Legal basis:
Art. 56 sec. 1 point 1 of the Act on Public Offering - Confidential information
Message:
The Management Board of the Issuer hereby informs that on the 21st April 2015 the Issuer received at its bank account payment for delivery to Ethiopia of the fifth lot of tractors, equipment for servicing centers and spare parts for tractors in the framework of execution of the first stage of the commercial agreement concluded with METALS AND ENGINEERING CORPORATION (METEC) OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA, of which the Issuer informed in the current reports no. 24/2013, 24/2014 , 25/2014, 39/2014, 43/2014, 45/2014 and 7/2015.
The amount of 27.220.745,56 PLN received by the Issuer, equivalent 7.404.587,77 USD was paid by Bank Gospodarstwa Krajowego within the Agreement between the Polish Government and the Government of the Federal Democratic Republic of Ethiopia on extending a tied aid credit.
Till now the Issuer for execution of the first stage of the agreement has received in total 39.472.060,90 USD. The amount of the currently executed stage is 49.999.998 USD, while the total amount of two stages of the agreement is 90.000.000 USD.
The company is executing the commercial agreement with METEC in compliance with its time schedule. The first stage of the agreement provides for six deliveries of the subject of the agreement. Now the Issuer is preparing the sixth delivery to METEC.
The legal basis of transmission of this report is of the Art. 56 sec. 1 point 1 of the Act on Public Offering dated July 29th 2005.
