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GENERAL MEETING

THE SUWARY SPÓŁKA AKCYJNA MANAGEMENT BOARD NOTICE OF CONVENING AN ORDINARY GENERAL MEETING OF SHAREHOLDERS TO BE HELD AT 1 PM, ON MARCH 8, 2017 IN PABIANICE, PIOTRA SKARGI 45/47

15.02.2017

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Current report 11/2018 Conclusion of a material agreement

The Management Board of Suwary S.A. informs that today a material agreement between the Company and Orlen Oil Sp. z o.o. with its registered office in Kraków (the “Recipient”) has been unilaterally signed. The agreement was sent to the other party for signature. The subject of the agreement is the production and delivery of HDPE plastic packaging with capacity of up to 5 l, including caps. The agreement covers a period of 3 years, until 2021. According to the estimated contract volumes, the total value of the three-year agreement will exceed PLN 7 million.

The agreement contains contractual penalties, which may exceed 10% of its value in the case of: 

- non-delivery within the deadline - not less than PLN 4,000 for each day of delay

- delayed removal of defects - PLN 1,000 for each day of delay

- introduction of packaging to the market of the Recipient, without his consent - PLN 1,000,000

- improper use of the trade mark by the Recipient - PLN 600,000

- if the amount of the above contractual penalties does not cover the amount of damage, the recipient is entitled to claim supplementary compensation in accordance with the provisions of the Civil Code.

Regardless of other contractual penalties, the Recipient is entitled to charge penalties in the amount of PLN 20,000 for each commenced month, if the Company within 1 month from the end of the agreement does not return the blown moulds, on which packaging for the Recipient are produced.

The remaining provisions of the agreement do not differ from the accepted market standards for this type of agreement.

In the current calendar year, two other agreements, not being material agreements, were also signed and sent to Orlen Oil sp. z o.o. for signing.

According to the estimated contract volumes, the total value of the three agreements will exceed PLN 9 million.

The report was delayed due to the ongoing tender procedure in accordance with paragraph 4 sec. 4 of the Regulation (EU) No. 596/2014 of the European Parliament and of the Council of 16 April 2014.

 

 

2018-05-21

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