The total value of contracts concluded by Energomontaż-Południe S.A. with E.ON Anlagenservice GmbH exceeding the threshold of 10 per cent of the Issuer’s equity
Publish date: 09.06.2011The Management Board of Energomontaż-Południe S.A. (the "Issuer" the "Company" the "Contractor") announces that on 5 September 2011 it received the following signed by the other party: a contract with an annex (expanding the scope of work accepted for implementation by the Issuer under a different contract) concluded with E. ON Anlagenservice GmbH (the "Client").
The Management Board of Energomontaż-Południe S.A. (the "Issuer", the "Company", the "Contractor") announces that, on 5 September 2011, it received the following, signed by the other party: a contract with an annex (expanding the scope of work accepted for implementation by the Issuer under a different contract) concluded with E. ON Anlagenservice GmbH (the "Client").
In connection with the above, the total value of contracts concluded between the Issuer and the Principal during the preceding 12 months has exceeded the equivalent of 10 per cent of the Company's equity, and now amounts to approximately PLN 17.7 million.
During the period in question, the contract with the highest value was the contract of 19 April 2011, with an original value of approximately EUR 1.8 million, i.e. approximately PLN 7.6 million. The subject of the contract was the Company's performance of work on the pressure element of the Unit G boiler in the RWE Niederaußem Power Plant in Germany. The contract contained provisions regarding contractual penalties, though they were capped at 5 per cent of the contract's value. The work under the above contract was completed in June 2011. The contract's implementation was governed by German law.
The Issuer regards 10 per cent of its equity as the criterion for considering the total value of agreements to be significant.
At the same time, the Issuer announces that, in accordance with its updated reporting policy, data regarding its order portfolio will be presented in the Company's periodic reports.
Legal basis:
Clause 5 par. 1 pt. 3 of the Regulation of the Minister of Finance of 19 February 2009 on current and periodic information published by issuers of securities and on conditions for finding information required by the provisions of law of a country that is not a Member State to be equivalent .
SIGNATURES OF PERSONS REPRESENTING THE COMPANY:
Jacek Fydrych - Vice-President of the Management Board
Radosław Kamiński - Vice-President of the Management Board