Legal basis: Art. 56 section 1 sub-section 2 of the Act on Offerings – current and periodic information
Body of the report:
The Jastrzębska Spółka Węglowa S.A. Management Board („Company”, „JSW S.A.”) announces that the Company obtained information on 25 April 2013 concerning the signing of a contract on 19 April 2013 with ArcelorMittal Eisenhüttenstadt GmbH with its registered office in Eisenhüttenstadt Germany to supply coke produced by Koksownia Przyjaźń S.A. with its registered office in Dąbrowa Górnicza.
The aforementioned contract has been deemed to be significant on account of the fact that the value of this contract computed as the sum total of the revenues to date under this contract amounting to PLN 308.9 million and its estimated value in the upcoming five years amounting to PLN 1,224 million (say: one billion two hundred twenty-four million zloty) exceeds 10% of the Company’s equity.
The signed contract whose parties are Jastrzębska Spółka Węglowa S.A. with its registered office in Jastrzębie Zdrój (named the „Seller” in the Contract) and ArcelorMittal Eisenhüttenstadt GmbH with its registered office in Eisenhüttenstadt (named the „Buyer” in the Contract) has been executed for one calendar year starting from 1 March 2012 with the standard clause that it will be automatically extended for another year if it is not terminated by 30 September of a given year during its term of validity. Each party is entitled to terminate this contract on an extraordinary basis for material reasons.
The prices of the supplied coke are determined in quarterly periods. The Euro is the Contract’s settlement currency. The payment terms are standard for these types of contracts.
The Contract does not contain clauses pertaining to contractual penalties with the exception of the ordinary clauses pertaining to quality-related settlements in the form of price discounts used in standard contracts to supply coke.
The Contract’s other terms and conditions do not deviate from the prevailing terms and conditions used in these types of contracts.
Legal basis: § 5 section 1 sub-section 3 of the Finance Minister’s Regulation of 19 February 2009 on the current and periodic information conveyed by securities issuers and the conditions for recognizing the information required by the regulations of a non-member state as being equivalent (Journal of Laws, 2009, no. 33, item 259 as amended).