Current report no. 22/2015
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 17th July 2015 the Issuer received at its bank account another payment for delivery to Ethiopia of the last, sixth lot of tractors 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, 7/2015 and 11/2015.
The amount of 25.725.637,11 PLN received by the Issuer, equivalent of 6.899.358,25 USD, represents 60% of the value of the sixth delivered lot of the subject of the agreement. According to the agreement and its payment schedule, METEC shall pay the remaining amount of 10% of the value of this lot.
All payments within the contract with METEC are made 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 48.850.104,96 USD.
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.
