The Management Board of TOYA S.A. hereby informs that on 19 January 2016, as part of continuing trade cooperation, the Company concluded a significant Cooperation Agreement with MGI POLSKA Sp. z o.o. with its registered office in Swadzim (“MGI”) as a company within the “Group Musketeers”, ie. the group uniting independent trading companies under the names “Intermarche”, “Bricomarche” and other companies owned by French law company ITM Entreprises SAS.
The agreement regulates the general framework and principles of trade cooperation between the parties, in particular in terms of sales and delivery within the framework of the TOYA enterprises, goods produced and sold by TOYA, promotion of products on offer TOYA, and the terms of orders and deliveries.
The agreement was concluded up to 31 December 2016 With a possible extension of 90 days.
The agreement does not provide for the parties to contractual penalties in excess of 10% of contract value.
The terms and conditions of the Agreement do not differ from terms and conditions commonly applied in this type of agreements.
The criteria for designating this as a significant agreement is that the total estimated value of the sales and services transactions pursued on the basis of terms and conditions of trade cooperation agreed by the contract will exceed 10% of the amount of equity of Toya S.A.
Legal basis: §5 paragraph 1 point 3 of the Regulation of the Minister of Finance on current and periodic information provided by issuers of securities and on conditions under which information required by legal regulations of a third country may be recognized as equivalent.
Grzegorz Pinkosz
President of the Management Board