Concluding a reference contract with Schneider Electric Polska Sp. z o.o.
Date |
2015-07-08 |
Current report no. |
26/2015 |
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The Board of TIM S.A. with its registered seat in Wrocław, informs that on 08.07.2015 TIM S.A. signed Annexe No. 4-2015 of 31.03.2015 to the Partnership Agreement No. K-2674/2014 of 22 January 2014 concluded by and between TIM S.A. and Schneider Electric Polska Sp. z o.o. with its registered seat in Warszawa. The Subject of the above-mentioned Trade Agreement is setting general rules of cooperation within the scope of sale by Schneider Electric Polska Sp. z o.o. to TIM S.A. goods produced by Schneider Electric Polska Sp. z o.o. The Subject of Annexe No. 4/2015 to the Partnership Agreement No. K-2674/2014 is specifying detailed trade terms and conditions regarding sale-purchase of the above-mentioned goods between TIM S.A. and Schneider Electric Polska Sp. z o.o. applicable in 2015. The above-mentioned Agreement is a framework agreement which means that every time the basis for its execution shall be orders for goods placed by TIM S.A., specifying, among others: goods, quantity, and the delivery time. The above-mentioned Trade Agreement shall be concluded for indefinite period of time. The Board of TIM S.A. estimates that in 2015 value of the above-mentioned Agreement will exceed 10% of equity capital of TIM S.A. The provisions of the above-mentioned Agreement do not diverge from the market standards of this type of contracts. The Agreement does not include the condition or a term of suspension; does not provide for contractual penalties which maximum value could exceed 10% of its value and it was concluded on the basis of terms and conditions commonly applied in this type of contracts. The above-mentioned Agreement fulfils the criterion of a reference contract due to the fact that its estimated value exceeds 10% of equity capital of TIM S.A. |
SIGNATURES OF PERSONS REPRESENTING THE COMPANY
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2015-07-08, Artur Piekarczyk – Member of the Board |