Current report no. 5/2016 29.01.2016
Title: Information about the acceptance by the Ministry of Finance of financing the contract concluded between Ursus S.A. and SUMA JKT (Tanzania)
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 29th January 2016 the Issuer was informed about the acceptance of the Ministry of Finance of the Republic of Poland on the 7th January 2016 of the contract concluded by URSUS S.A. with the company The National Service Corporation Sole (SUMA JKT) with the seat in w Dar es Salaam (Tanzania), to be financed within the Agreement between the Government of the Republic of Poland and the Government of the United Republic of Tanzania on extending a tied aid credit, drawn up in Dar es Salaam on the 28th September 2015.
The contract between URSUS S.A. and SUMA JKT is related to sales of tractors, implements and spare parts and its total value is 55 million USD. The Issuer informed about the fact of its conclusion in the current report no. 38/2015 on the 22nd October 2015.
On the basis of the concluded Contract the Issuer will supply 2400 agricultural tractors in SKD form in the power range 50-85 HP, together with implements and spare parts thereof, as well as it will assure supply of equipment for assembly hall and eight servicing centers for tractors. Deliveries within the Contract will be executed in lots in the I, II and III quarter of 2016.
The first payment under the Contract will be made as an advance payment before starting deliveries in the amount of 40% of the contract value, i.e. 22.000.000 USD. 58% of the total value in the amount of 31.900.000 USD will be paid to the Issuer after submission of the appropriate transport documents for subsequent deliveries of the goods, while the remaining 2% of the price in the amount of 1.100.000 USD will be paid after signing by the buyer of the acceptance protocols for the received goods.
