Current report no. 30/2013
Title: Change of the terms of cooperation between the company Bioenergia Invest S.A. and the company GDF SUEZ Bioenergia sp. z o.o.
Legal basis:
Art. 56 sec. 1 point 2 Act on Public Offering – current and periodical information
Message:
The Management Board URSUS S.A. hereby informs that on 21 November 2013 the Issuer received notice that its subsidiary company - Bioenergia Invest S.A. with the seat in Dobre Miasto (Supplier) and the company GDF SUEZ Bioenergia sp. z o.o. with the seat in Zawada (Buyer), subsidiary of GDF SUEZ Energia Polska S.A., because of the actual situation of the renewable energy market, changed by common consent the terms of their current cooperation, also within the agreement, of which the Issuer informed in the current report no. 29/2011 of 26 August 2011. As a result of the above, the parties concluded:
- on 7 November 2013 the consistent agreement of the parties terminating the agreement on biomass supply of 7 August 2011;
- on 8 November 2013 the contract for purchase and sale of agricultural biomass in form of straw pellets and briquettes till the end of the year 2013;
- on 8 November 2013 the contract for purchase and sale of agricultural biomass in form of straw briquettes in the year 2014.
In consequence of the consistent agreement of the parties, the agreement on biomass supply, of which the Issuer informed in the current report no. 29/2011 of 26 August 2011, was terminated with the effect on 15 November 2013. The parties finished their cooperation in frames of this agreement and settled their mutual accounts. This agreement, concluded two years ago in 2011, was not complying with the actual situation of the biomass market in 2013 anymore. Its termination does not mean the end of cooperation of the parties, it was only a formality necessary to change the terms of cooperation. After its termination, the parties concluded the contracts for supply by Bioenergia Invest S.A. to GDF SUEZ Bioenergia sp. z o.o. of biomass till the end of the year 2013 and supply of biomass for the whole year 2014. The provisions of the newly concluded contracts do not differ from the terms commonly used in contracts for biomass sale.
In the Issuer’s opinion, the change of the terms of cooperation between Bioenergia Invest S.A. and GDF SUEZ Bioenergia sp. z o.o. will affect positively the situation of the subsidiary, i.e. Bioenergia Invest S.A., as well as of the Issuer.
The legal basis of the present report is §5 sec.1 point 5 in connection with §11 of the Regulation of the Minister of Finance dated 19 February 2009 regarding current and interim reports published by issuers of securities and the terms of finding as equivalent the information required under the laws of any non-member state (Journal of Laws, 2009 No 33, point 259 with subsequent changes). Current report no. 30/2013 2013-11-21
Title: Change of the terms of cooperation between the company Bioenergia Invest S.A. and the company GDF SUEZ Bioenergia sp. z o.o.
Legal basis:
Art. 56 sec. 1 point 2 Act on Public Offering – current and periodical information
Message:
The Management Board URSUS S.A. hereby informs that on 21 November 2013 the Issuer received notice that its subsidiary company - Bioenergia Invest S.A. with the seat in Dobre Miasto (Supplier) and the company GDF SUEZ Bioenergia sp. z o.o. with the seat in Zawada (Buyer), subsidiary of GDF SUEZ Energia Polska S.A., because of the actual situation of the renewable energy market, changed by common consent the terms of their current cooperation, also within the agreement, of which the Issuer informed in the current report no. 29/2011 of 26 August 2011. As a result of the above, the parties concluded:
- on 7 November 2013 the consistent agreement of the parties terminating the agreement on biomass supply of 7 August 2011;
- on 8 November 2013 the contract for purchase and sale of agricultural biomass in form of straw pellets and briquettes till the end of the year 2013;
- on 8 November 2013 the contract for purchase and sale of agricultural biomass in form of straw briquettes in the year 2014.
In consequence of the consistent agreement of the parties, the agreement on biomass supply, of which the Issuer informed in the current report no. 29/2011 of 26 August 2011, was terminated with the effect on 15 November 2013. The parties finished their cooperation in frames of this agreement and settled their mutual accounts. This agreement, concluded two years ago in 2011, was not complying with the actual situation of the biomass market in 2013 anymore. Its termination does not mean the end of cooperation of the parties, it was only a formality necessary to change the terms of cooperation. After its termination, the parties concluded the contracts for supply by Bioenergia Invest S.A. to GDF SUEZ Bioenergia sp. z o.o. of biomass till the end of the year 2013 and supply of biomass for the whole year 2014. The provisions of the newly concluded contracts do not differ from the terms commonly used in contracts for biomass sale.
In the Issuer’s opinion, the change of the terms of cooperation between Bioenergia Invest S.A. and GDF SUEZ Bioenergia sp. z o.o. will affect positively the situation of the subsidiary, i.e. Bioenergia Invest S.A., as well as of the Issuer.
The legal basis of the present report is §5 sec.1 point 5 in connection with §11 of the Regulation of the Minister of Finance dated 19 February 2009 regarding current and interim reports published by issuers of securities and the terms of finding as equivalent the information required under the laws of any non-member state (Journal of Laws, 2009 No 33, point 259 with subsequent changes).
