Current report no. 31/2015
Title: 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 25th September 2015 the Issuer received at its bank account the last payment for the first stage of the agreement 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, 11/2015 and 22/2015.
The amount of 4.272.197,61 PLN received by the Issuer, equivalent of 1.149.893,04 USD, represents 10% of the value of the last, sixth delivered lot of the subject of the agreement. The payment results from meeting by the Issuer of all the conditions of the first stage of the agreement and attests its due fulfillment.
For execution of the first stage of the agreement with METEC the Issuer received in total 49.999.998,00 USD. All payments within the contract with METEC were 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.
At the moment the Issuer is holding negotiations with METEC concerning execution of the second stage of the contract for delivery of tractors, equipment for servicing centers and spare parts for tractors, of which the Issuer informed in the current report no.27/2015.
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.
