Current report no. 19/2016 (06.05.2016)
Title:
Another payment received under the contract with Ethiopian Sugar Corporation
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 6th May 2016 the Issuer received at its bank account the payment for the delivery of another lot of cane haulage tractors, tandem cane haulage trailers and spare parts thereof within execution of the sales contract with The Federal Democratic Republic of Ethiopia (FDRE) SUGAR CORPORATION (Ethiopian Sugar Corporation), concluded on the 26th August 2015, as amended, of which the Issuer informed in the current report no. 26/2015, 46/2015, 7/2016, 11/2016 and 12/2016.
The amount of 50.208.160,15 PLN received by the Issuer, equivalent of 13.077.085 USD, represents the value of the third, last lot of the contract subject delivered within the contract with Ethiopian Sugar Corporation.
For execution of the contract till now the Issuer has received the equivalent of the amount of 30.672.075 USD, i. e. the full amount of the total value of the contract with ESC of the 26th August 2015.
The received payments result from meeting by the Issuer of all terms and conditions of the contract and attest its due fulfillment.
All payments under the contract with Ethiopian Sugar Corporation are made by Bank Gospodarstwa Krajowego on the basis of the Agreement between the Polish Government and the Government of the Federal Democratic Republic of Ethiopia on extending a tied aid credit.
Currently the Company is preparing execution of the additional scope of the contract with Ethiopian Sugar Corporation of the value 5.021.476,45 USD, resulting from the annex to the above-mentioned contract, of which the Issuer informed in the current report no. 12/2016.
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.
