Current report No. 43/2013

Information on execution of a significant agreement

 

Body of the Report:

The Management Board of Jastrzębska Spółka Węglowa S.A. (“JSW”, “Issuer”) hereby announces publicly that it has learned that on 29 October 2013 its subsidiary Polski Koks S.A. received an Annex no. 2 to the coke sale agreement of 1 July 2013 signed by the other party - MIR Trade AG dated 2 October 2013.

The Issuer reports that during the last 12 months, the total value of trade between JSW Capital Group companies and MIR Trade AG was PLN 218 million (two hundred eighteen million zlotys), while the estimated value of contracts executed during the last twelve months, from the date of publication of this report until the end of their term is PLN 770 million (seven hundred seventy million zlotys) and exceeds 10% of the Company's equity.

The agreement of the highest value is the agreement executed on 1 July 2013 between Polski Koks S.A. acting on behalf and for (“Seller”) and MIR Trade AG (“Buyer”) to which two annexes were signed which increased the volume of coke sales and therefore also the value of the agreement.

The subject matter of the agreement is the sale of coke.

Material terms of the Agreement:

Agreement execution date: 1 July 2013.

Net value of the agreement (which is the sum of actual sales until the date of publication of this report and its estimated value) including the two annexes, from the beginning of its term: PLN 801 million (eight hundred one million zlotys).

Currency of the agreement: USD.

Financial terms: prepayment or documentary letter of credit covering 100% of the value of the merchandise

The remaining terms of the agreement do not differ from those commonly used this type of agreement.

Legal basis: § 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