Izostal S A : Conclusion by Izostal SA a partial agreement for the supply of coated steel pipes DN700 for O.G.P. Gaz-System S.A.

Conclusion by Izostal SA a partial agreement for the supply of coated steel pipes DN700 for O.G.P. Gaz-System S.A.

17-06-2020 11:45

Report no.: 12/2020

Legal basis: Art. 17 Clause 1 MAR - confidential information.
CONTENT OF THE REPORT:
In connection to the current report no. 11/2020 of May 27, 2020 the Management Board of Izostal S.A. (the Company, the Contractor) informs that on June 17, 2020 Izostal S.A. was informed about the partial contract's with Gas Transmission Operator Gaz-System S.A. seated in Warsaw (the Orderer) being signed by the other party. The partial contract will be executed within the scope of a framework agreement of which the Company informed in its current report no. 24/2019 of August 16, 2019.

The subject of the partial agreement is the production, sale and supply of coated externally and internally painted steel pipes DN700 for the investment task performed by O.G.P. Gaz-System S.A. - Gas Pipeline DN700 Poland - Lithuania southern section order 3 of length ca. 63 km.

Total net value of the partial contract is PLN 45.9 million, which is PLN 56.5 million gross.
The partial contract will be realized from October 1, 2020 to April 30, 2021.

Detailed terms and conditions of the execution of the partial contract mentioned above, including the description of contractual penalties are specified in the framework contract, of which the Company informed in the current report no. 24/2019 of August 16, 2019.

The Management Board considers an agreement described as significant because of its high value. Implementation of the abovementioned agreement will affect the revenue growth of the Company.

SIGNATURES OF PERSONS REPRESENTING THE COMPANY:
Management Board President, Marek Mazurek 2020-06-17
Management Board Vice President, Michał Pietrek 2020-06-17
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: 47-113 Kolonowskie Opolska 29
Telephone: [phone]
Fax: [phone]
e-mail: [e-mail]
www.izostal.com.pl
VAT No. [NIP]:756-00-10-641
Statistical No. [REGON]: 530884678