Current report no. 24/2014 (27.06.2014)
Title:
delayed disclosure of confidential information
Legal basis
Art. 56 sec. 1 point 1 of the Act on Public Offering - Confidential information
Message:
Acting on the basis of the art. 57 sec. 3 of the Act on Trading in Financial Instruments dated July 29th 2005, the Management Board of Ursus S.A. in Lublin makes public the confidential information, disclosure of which was delayed according to § 2 sec. 1 point 1 and 3 of the Ordinance of the Minister of Finances of the 13th April 2006 on the specific information that could violate the rightful interest of the issuer and the issuer’s conduct in connection with the delay in publishing confidential information.
The confidential information transmitted on the 3rd March 2014, disclosure of which was delayed, referred to conclusion of the agreement for delivery of tractors, equipment for servicing centers and spare parts for tractors with METALS AND ENGINEERING CORPORATION (METEC) OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA that replaced the contract concluded on the 24th September 2013, of which the Issuer informed in the current report no. 24/2013.
Referring to the report that has not been previously disclosed, the Management Board URSUS S.A. hereby informs that on the 27th June 2014 the Issuer received on his bank account an advance payment in the amount of 14.999.999,40 USD (denominated in 45 379 498,18 PLN), constituting 30% of the value of the first stage of the contract (the total value of the contract is 90.000.000 USD). The amount of the advanced payment is equivalent to 30% of the value of the first stage of sold tractors, spare parts and shipment. This amount was repaid by Bank Gospodarstwa Krajowego (BGK), within the Agreement between the Polish Government and the Government of the Federal Democratic Republic of Ethiopia on extending a tied aid credit. The next payment constituting 60% of the total price shall be repa id by BGK after issuance of shipping documents, regarding the first stage of sold tractors and spare parts, while the remaining 10 % of the price shall be repaid after signature of protocols of receipt of the sold tractors and spare parts.
