Legal Basis: Article 56 Section 1 Item 2 of the Act on Offerings – current and periodic information
Body of the Report:
The Management Board of Jastrzębska Spółka Węglowa S.A. (“Company”, “JSW”) hereby informs that the total value of revenues and the estimated value of agreements, for the period ending on their expiration date, entered into by and between the companies of the JSW Capital Group and the companies of the voestalpine AG Capital Group (voestalpine Rohstoffbeschaffungs GmbH with its registered office in Linz, Importkohle GmbH with its registered office in Vienna, voestalpine Stahl Donawitz GmbH & Co KG with its registered office in Leoben-Donawitz and voestalpine Stahl GmbH with its registered office in Linz) during the last 12 months has reached the net amount of PLN 3,297 million (three billion two hundred ninety-seven million Polish zloty).
The highest-value agreement is the agreement for the deliveries of blast furnace coke (“Agreement”) signed on 19 January 2006 by and between Jastrzębska Spółka Węglowa S.A. (appearing in the Agreement as the “Seller”), Kombinat Koksochemiczny „Zabrze” S.A. with its registered office in Zabrze (appearing in the Agreement as the “Coke Producer”), Polski Koks S.A. with its registered office in Katowice (appearing in the Agreement as the “party exercising the rights and fulfilling the obligations of the Seller”) – both of which are subsidiaries of JSW S.A. – and voestalpine Rohstoffbeschaffungs GmbH with its registered office in Linz and Importkohle GmbH with its registered office in Vienna acting for and on behalf of voestalpine Stahl Donawitz GmbH & Co KG with its registered office in Leoben-Donawitz and voestalpine Stahl GmbH with its registered office in Linz (appearing in the Agreement as the “Buyers”).
Material terms and conditions of the Agreement: the prices are agreed upon on a quarterly basis per metric ton. The prices for the deliveries are agreed upon before the start of each new period of deliveries and are specified in a separate annex based on the Agreement.
The Agreement is in force from 1 April 2005 to 31 March 2016.
The settlement currencies of the Agreement are the Polish zloty and the euro.
The estimated net value of the Agreement until the end of its term of validity is PLN 1,287 million (one billion two hundred eighty-seven million Polish zloty).
The Agreement does not contain any provisions regarding liquidated damages except for the customary clauses on the settlement of quality in the form of price reductions used in standard contracts for the deliveries of coke.
The other terms of the Agreement do not differ from those commonly used in this type of agreement. The estimated value of agreements and revenues between the JSW Capital Group and the companies of the voestalpine AG Capital Group during the last twelve months until the date of publication of this report has exceeded 10% of the Company’s equity.
§ 5 Section 1 Item 3 of the Regulation issued by the Finance Minister on 19 February 2009 on the Current and Periodic Information Transmitted by Securities Issuers and the Conditions for Recognizing the Information Required by the Regulations of a Non-Member State as Equivalent (Journal of Laws of 2009 No. 33 Item 259, as amended)