Conclusion of a significant contract with Ferrum S.A.

Date  of issue: 2012-06-26
 
Legal basis: Art. 56 Clause 1 Item 2 of the Offering Act - current and periodic information.
 
SUBJECT: Conclusion of a significant contract with Ferrum S.A.

CONTENT OF THE REPORT:
The Management Board of Izostal S.A. (Company) informs that on June 25, 2012 Izostal S.A. concluded a transaction for the sale of pipes with Ferrum S.A. (Buyer) seated in Katowice. Following this transaction the total value of purchase/sales contracts concluded by the Company with Ferrum S.A. since October 5, 2011 (current report no. 48/2011) has exceeded 10% of Company’s equity and amounted to PLN 17.1 (net).

In the aforesaid period the transaction of the greatest value was the drilling pipes sales transaction between Izostal S.A. (Seller) and Ferrum S.A. (Buyer) concluded on January 9, 2012, of a total net value of PLN 1.1 million, which converted to PLN at the mean exchange rate announced by the National Bank of Poland as on the day of signing the Contract was ca. PLN 4.8 million.

The Parties agreed to settle the transactions under the Contract in EUR. 

The object of the contract will be delivered by the Seller by January 31, 2012. The contract does not provide for any liquidated damages and terms and conditions of the transaction are not different from the conditions used typically for such contracts.

The transactions concluded with Ferrum S.A. in the aforementioned period meet the criterion of a significant contract as their total value exceeds 10% of the Company’s equity.
 
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 President, Marek Mazurek 2012-06-26
Management Board Vice President, Jacek Podwiński 2012-06-26
 
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