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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 32/2014 Conclusion of the significant agreement

Management Board of Suwary S.A. notifies that the significant agreement signed by Orlen Oil Sp. z o.o. with its registered seat in Cracow ("Customer") was submitted to the Company today.  The subject of the agreement is manufacture and delivery of plastic packages of the capacity up to 5 l, with caps. The agreement is valid from 21.11.2014.
According to the estimates of the orders, the total value of the two-year agreement shall exceed 9 million PLN.
The agreement contains contractual penalties that may exceed 10 % of its value in the case of:  
- failure to perform delivery within the indicated period - PLN 2,000 per each day of delay

- untimely removal of defects - PLN 1,000 per each day of delay

- marketing of Recipients packages  - PLN 1 000 000

- unlawful use of the Recipient's trademark PLN 600,000.

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

Notwithstanding any other contractual penalties, the Recipient is entitled to charge a penalty in the amount of PLN 20 000 for each new month if the Company, within 1 month after the end of the agreement, shall not return the blow moulds, which are used to manufacture packages for the Recipient.

Other terms and conditions of the agreement do not differ from the accepted market standards for such type of agreements.

The criteria to deem an agreement as significant is  the amount of Suwary S.A. own equity.

2014-12-01

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