The Management Board of Cyfrowy Polsat S.A. (the "Company") informs that on November 15, 2013, it become aware of the fact of that on November 15, 2013 new agreements (the 'Agreements') were signed between the Company and Eutelsat S.A. The subject of the Agreements is allotment of additional transponder's capacity and change in previous agreements concerning the lease of transponders' capacity on HotBird satellites (on which the Company informed in the current reports no. 10/2009 dated February 27, 2009 and no. 31/2009 dated October 10, 2009, as well as agreement dated August 22, 2012).
Based on the new Agreements, the Company has a total capacity of five transponders on HotBird satellites.
The expiration date of the Agreements is December 31, 2017.
The value of the Agreements is expressed in euro and in the life of the Agreements, converted into PLN at a rate of PLN 4.1890 per 1 euro, published by the National Bank of Poland on November 14, 2013, will equal to PLN 295.12 million (EUR 70.45 million).
All conditions of the Agreements do not vary from the market standards applied to this type of agreements.
The Company estimated that the value of the Agreements may exceed 10% of the consolidated revenue for the last four financial quarters, thus meeting the criterion of a significant agreement.
Legal grounds: Article 5 sec. 1 item 3 of the Ordinance of the Minister of Finance of February 19, 2009 regarding current and periodic information to be submitted by issuers of securities, and the conditions for recognizing equivalence of information required under non-member states regulations.
current_report_23_2013_eutelsat.pdf 15.63 KB
