Current report 59/2018   (06.06.2018)

Title:

Payment within the agreement with the Tanzanian company NDC

Legal basis:

Art. 17 sec. 1 Market Abuse Regulation

Message:

The Management Board of URSUS S.A. hereby informs that on the 6th June 2018 the Issuer received at its bank account the payment for delivery of a lot of the subject of the Sales Agreement of the 22 October 2015, executed with National Development Corporation (NDC) with the seat in Dar es Salaam (Tanzania), of which the Issuer informed in the current reports no. 38/2015, 5/2016, 29/2016, 39/2016, 47/2016 and 1/2018. 

The payment received by the Issuer in the amount of 3.037.680,32 PLN, equivalent of 835.790,43 USD, is a payment for a lot of agricultural tractors, implements and spare parts delivered to Tanzania within the above-mentioned contract.

All payments within the agreement with NDC are made by Bank Gospodarstwa Krajowego, within the Agreement between the Government of the Republic of Poland and the Government of the United Republic of Tanzania on extending a tied aid credit.

For execution of the contract the Issuer has till now received in total 34.620.842,81 USD (including the advance payment in the amount of 40% of the total value of the agreement, i.e. 22.000.000 USD), which is equivalent of 136.642.389,54 PLN. The total value of yje contract with NDC is 55.000.000.USD.

Till now the Issuer has executed a part of the planned deliveries of the subject of the Agreement, subsequent deliveries will be made in successive periods of 2018.