Current report number 31/2023 from the August 29, 2023.
The Management Board of the issuer, i.e. VIGO Photonics S.A. with its registered office in Ożarów Mazowiecki (hereinafter referred to as: “Issuer”), hereby informs that on August 29, 2023 it concluded with a company belonging to the Polish Armament Group S.A. (hereinafter referred to as the “Ordering Party”) an annex to the agreement of October 16, 2017 (hereinafter referred to as: “Agreement”).
The subject of the Agreement is the Issuer’s delivery to the Ordering Party of detectors in the quantities specified each time by the Ordering Party in the orders. During the term of the contract, the Ordering Party declared the purchase of a volume of detectors worth (taking into account the current price) PLN 15,750,000.00 (fifteen million seven hundred and fifty thousand PLN). The supplied detectors are one of the most important components of the explosion suppression and fire extinguishing system developed by Polish entities in tanks, combat vehicles and other vehicles for both military and civilian purposes.
The agreement was concluded for a definite period until December 31, 2035. Taking into account the current market conditions, the degree of technological and business development of the parties and the Issuer’s production capacity that may occur before the end of 2035, each party has the right to request a change of the provisions the content of the Agreement and its term.
Starting from 2025, on January 1 of each subsequent year of the Agreement, the price for the detectors will automatically be increased by indexing it by the average annual inflation rate published by the Central Statistical Office for the calendar year preceding the year in which the prices change.
The Issuer provided the Ordering Party with a quality guarantee for the detectors for 24 months from the date of installation on the target device, but not longer than 30 months from the date of signing the handover-acceptance protocol.
The agreement does not contain any provisions on contractual penalties and does not stipulate conditions or termination and suspensive dates.
The other terms and conditions of the Agreement do not differ from market terms for similar types of agreements.
The agreement is a significant agreement due to its value.
Legal basis: art. 17 sec. 1 of Regulation (EU) No. 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (Market Abuse Regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directive 2003/124 /WE, 2003/125/EC and 2004/72/EC (Journal of Laws UE.L No. 173, p. 1 as amended)