Wilbo w upadlosci ukladowej : Conclusion of the sale contract to the Belarusian market.

Current report no 9_2015_Conclusion of the sale contract to the Belarusian market

Current report no: 9/2015
Date: 24/03/2015
Subject: Conclusion of the sale contract to the Belarusian market
Legal Basis: Art. 56 par. 1 point 1 of the Act on Public Offering - confidential information
The Management Board of Wilbo SA (the 'Issuer' or 'the Company') announces that on 24 March
2015, the Company has concluded trade agreement (Agreement) with Sp. o.o MOROZPRODUKT ('MOROZPRODUKT', 'Buyer'), registered and operating in accordance with the laws of the Republic of Belarus.
MOROZPRODUKT is a dynamically growing company with a well-developed distribution network, which is the market leader in the distribution of the Belarusian wide range of products from Russia, Lithuania and Polish (distributor of brands such as: Bauer, McCain, Mantinga, Poltino).
Object of contract is the supply and sale of the Issuer breaded fish products on the territory of Belarus on the basis of orders of the Buyer, the Buyer under the agreement has exclusive rights for the resale of products purchased by the Issuer on the territory of the Republic of Belarus, with the exception of the three commercial networks specified in the agreement.
Contract value is a the amount of 600 thousand. EUR, which corresponds to the equivalent of approx.
2.5 million zloty. The agreement is effective from the date of its conclusion on 31 January 2016 with the possibility of renewal automatically for another year when one of the parties does not confirm in writing its solutions beyond its expiry date.
Each party has the right to unilaterally terminate the agreement with a thirty day notice period.
In the event of any breach by the Issuer of the condition relating to sale exclusivity referred to above, the Issuer will be required to pay a penalty in the amount of 10 thousand EURO for each breach.
The agreement has not been concluded subject to the condition or term.
In other respects agreement does not include specific conditions that would differ from those commonly used for this type of agreement.
The agreement does not fulfill the criteria adopted by the Issuer of significance, ie. the value of 10% of the Issuer's sales revenue for the last four quarters, but the agreement by the Issuer considers important, because it gives a chance for significant growth in revenues of the Issuer.