Conclusion of a significant agreement with Ferrum S.A.

Date  of issue: 2013-04-23
 
Legal basis: Art. 56 Clause 1 Item 2 of the Offering Act - current and periodic information.
 
SUBJECT: Conclusion of a significant agreement with Ferrum S.A.

CONTENT OF THE REPORT:
The Management Board of Izostal S.A. informs that on 22 April 2013 Izostal S.A. (Company, Seller) concluded a transaction of sale of coated pipes with the Ferrum S.A. company (Buyer) based in Katowice. As a result of the concluded transaction, the total value of purchase / sales contracts concluded by the Company with Ferrum S.A. from 26 June 2012 (current report No. 37/2012) has exceeded 10% of equity capitals of the Company and amounted to about 17, 017 thousands PLN (net).

During this period, the contract of the highest value was the transaction of sale of coated pipes by Izostal S.A. (Seller) to Ferrum S.A. (Buyer) concluded on 31 January 2013, of the total value of about 1,922 thousand EUR (net), which when converted at  the average exchange rate of NBP (National Bank of Poland) on the date of signing of the contract constitutes approximately 8,046 thousand PLN (net).
The parties have agreed that the settlement under the contract shall be made in EUR.
The subject of the order will be delivered by the Seller until 30 April 2013.

The agreement does not provide for contractual penalties, and the terms of the transaction are similar to the terms commonly used for this type of contracts.

Included in the above-mentioned period, transactions with Ferrum S.A. meet the criterion of a significant agreement, because their total value exceeds 10% of the equity capitals of the Company.

Specific legal basis: §5 clause 1 item 3 of the Ordinance of the Minister of Finance of February 19, 2009 on current and periodic information disclosed by the issuers of commercial papers and the conditions for recognizing as equivalent the information required by the laws of a non-member state (Journal of Laws No. 33, item 259 as amended).

SIGNATURES OF PERSONS REPRESENTING THE COMPANY:
Management Board Vice President, Jacek Podwiński 2013-04-32

Proxy, Marek Matheja 2013-04-32
 
INFORMATION ON THE ENTITY:
Full name of the issuer: IZOSTAL SPÓŁKA AKCYJNA
Abbreviated name of the issuer:  IZOSTAL S.A
Sector based on the classification of Warsaw Stock Exchange:  Other industry
Address: 47-120 Zawadzkie Polna 3
Telephone: (77) 405 65 00
Fax: (77) 405 65 01
e-mail:info@izostal.com.pl
www.izostal.com.pl
VAT No. [NIP]:756-00-10-641
Statistical No. [REGON]: 530884678