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Current Report no. 19/2014


Conclusion of a significant coke supply contract


Body of the report:

The Management Board of Jastrzębska Spółka Węglowa S.A. („Company”, „JSW”) reports that on 25 July 2014 a contract („Contract”) was executed by and between Jastrzębska Spółka Węglowa S.A. with its registered office in Jastrzębie-Zdrój (acting in the Contract as the „Seller”), on whose behalf and in whose name Polski Koks S.A. with its registered office in Katowice and JSW Koks S.A. with its registered office in Zabrze are acting and Importkohle GmbH with its registered office in Vienna jointly with Voestalpine Rohstoffbeschaffungs GmbH with its registered office in Linz (acting in the Contract as the „Buyer”), whose estimated value is PLN 1.37 billion (one billion three hundred seventy million Polish zloty), which exceeds 10% of the Issuer’s equity.

Coke supplies to the Buyer are the object of the Contract.

The Contract is in force from 01 April 2016 to 31 March 2021 with an option to extend it for another 5 years.

The Contract’s estimated net value during its term of validity until 2021 is PLN 1.37 billion.

The Contract’s settlement currency is EUR.

Price conditions will be agreed in quarterly or semiannual periods.

The Contract does not contain any clauses pertaining to contractual penalties except for clauses customarily employed in contracts of this type concerning settlements related to the quality of the coke supplied in the form of price discounts.

At the same time, the Company reports that in addition to the foregoing Contract, an annex concerning coke supplies to the Buyer in 2014-2017 with an estimated value of PLN 560 million was executed to one of the current contracts during the most recent 12 months.

Legal grounds:

§ 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).

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