Signing of an annex to a significant agreement

Current report 12/2014 dated 03.06.2014

Legal basis: Section 56 art. 5 of the Act on Public Offering — updated information

The Management Board of ATM S.A. announces that on this day ATM S.A. and the Minister of Economy signed an annex to a significant agreement concerning a subsidy for the implementation of the “ATM Innovation Center” project provided out of public funds to the Issuer under Measure 4.5 of the Innovative Economy Operational Program 2007–2013. The Issuer announced in Current Report No. 32/2009 dated 18 December 2009 that a significant agreement had been signed and that the previous annex amending the agreement had been signed in Current Report No. 54/2012 dated 31 October 2012.

The intention of the Management Board of the Issuer has been to sign another annex for update purposes, based on the current time schedule and scope of works, which would take into account the current value of the project, which dropped from PLN 162.8 million (inclusive of VAT) as estimated in 2012 down to PLN 138.5 million inclusive of VAT. The size of the subsidy has not changed and is 22.51% of eligible costs.

Accordingly, the value of the agreement, i.e. the amount of the received subsidy is currently PLN 25,332,078.70, which represents 22.51% of the project eligible costs, which are PLN 112.5 million.

The introduced amendments concerning the scope and size of the project result from the need to adjust the project plans to the current market needs over the timeframe of the subsidised project, namely until 2015. After that date, the Management Board of the Issuer might continue the project out of its own funds.

The project needs to be completed and all the eligible costs of the project must be settled by 23 April 2015.

The project must be implemented in accordance with the provisions of the agreement and the public aid laws. The agreement does not stipulate any liquidated damages. In the case of a breach of the provisions of the agreement concerning the implementation of the project at the Issuer’s fault, the agreement may be terminated by the Minister of Economy, which may result in an obligation to return the received funds along with interest charged at the rate stipulated for tax arrears.

Maciej Krzyżanowski — President of the Management Board,
Tadeusz Czichon — Vice-President of the Management Board