The Management Board of The Cyfrowy Polsat S.A. (Company) hereby informs that on 25 February 2008 it concluded annexes to the license agreements dated 14 February 2003 and 30 May 2006 between the Company and TVN S.A. By force of signed appendices Company will be distributing television channels broadcast by TVN S.A., including TVN, TVN Siedem, TVN 24, TVN Style, TVN Turbo and TVN Meteo. TVN and TVN Siedem will be distributed to the subscribers of all packages offered by the Company, while TVN 24, TVN Style, TVN Turbo and TVN Meteo will be distributed to the Family Package subscribers
For distributing channels TVN 24, TVN Style, TVN Turbo and TVN Meteo, the Company will pay a monthly license fee, expressed in euro, to TVN S.A. for every subscriber of Family Package. The rate will depend on the number of subscribers of the Family Package.
Total value of signed annexes depends on the number of Family Packages subscribers and PLN/Euro exchange rate. The Company estimated that the total value of these annexes, in the life of the agreement, will not be lower than PLN 130,000,000 based on the PLN/Euro exchange rate of PLN 4.5678 per 1 euro, exchange rate published by the National Bank of Poland on day 25 February 2009 and recently reported number of subscribers as the base of such an estimation.
All conditions of the agreement do not vary from market standards applied to this type of agreements.
The annexes to the agreements have been deemed material due to the fact that its value over its lifetime will exceed 10% of the equity of the Company.
Legal basis: Paragraph 5, section 1, point 3 of a Decree of the Finance Minister regarding current and
periodical information filed by issuers of securities.
Raport_biezacy_9_2009_eng.pdf 12.67 KB
