The Management Board of Jastrzębska Spółka Węglowa S.A. (“JSW”, “Issuer”) hereby announces that on 09 January 2015 it was informed that its subsidiary, JSW Koks S.A., entered into an agreement on trade balancing of electricity with a subsidiary of TAURON Polska Energia S.A., i.e. TAURON Sprzedaż Sp. z o.o., with the estimate value of PLN 55 million. Consequently, the estimate value of the agreements currently prevailing and the turnover realized over the past 12 months between companies of the JSW Capital Group and companies of the TAURON Polska Energia S.A. Capital Group totaled approx. PLN 746 million and exceeded the threshold of 10% of the Issuer’s equity.
JSW Capital Group Companies have entered into a number of agreements with companies from the TAURON Polska Energia S.A. Capital Group pertaining in particular to: delivery, distribution, trade balancing of electricity and coal sales.
The agreement with the highest value among the agreements currently prevailing is a three-year framework agreement entered into by JSW and TAURON Polska Energia S.A. on 30 December 2013 for the term from 01 January 2014 to 31 December 2016 on JSW coal deliveries carried out from the beginning of its term. Pricing conditions are agreed for each coming year. The estimate value of the agreement, counting from today to the end of its term, amounts to PLN 256 million. The settlement currency of the agreement is PLN. The provisions of the agreement contain standard clauses on contractual penalties and the remaining terms and conditions of the agreement do not deviate from the terms and conditions generally applied in agreements of this type.
Legal basis:
§ 5 section 1 item 3 of the Finance Minister’s Regulation of 19 February 2009 on the current and periodic information conveyed by securities issuers and the conditions for recognizing the information required by the regulations of a non-member state as being equivalent (Journal of Laws of 2009, No. 33, Item 259 as amended).