The Management Board of TOYA S.A. hereby informs that on 1 April 2013, as part of continuing trade cooperation, the Company concluded a significant Distribution Agreement with KLIMAR – M. KLITYŃSKI, N. KLITYŃSKI Spółka Jawna with its registered office in Wrocław (“Distributor”).
The agreement regulates the general framework and principles of trade cooperation between the parties, in particular the organisation of an efficient system for distribution and promotion of products on TOYA’s offer, terms and conditions of orders and deliveries as well as principles of extending a trade credit.
The agreement was concluded for an indefinite period, each party has the right to terminate the Agreement by giving three months’ notice in writing.
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.
At the same time the Management Board of TOYA S.A. informs that apart from the abovementioned significant agreement in the period from 25 March to 2 April the Company has signed Distribution Agreements also with other trading partners. The estimated value of those agreements does not exceeds 10% of the amount of equity of Toya S.A . All agreements set the new rules for existing trading cooperation in order to build efficient and professional distribution system of the goods offered by 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