Current report number: 1/2011
Data: 17 January 2011
Komisja Nadzoru Finansowego
Pl. Powstańców Warszawy 1
Acting pursuant to §5 sec.1 item 5) of the Regulation of the Minister of Finance of 19 February 2009 on ongoing and periodical information to be submitted by issuers of securities and terms on which information required by the provisions of law of a non-member state is to be deemed equivalent (Official Journal of the Republic of Poland No. 33, pos. 259, as amended), the Management Board of TELL S.A. hereby makes it known that it has received notice of the termination by PTK Centertel Sp. z o.o., whose principal place of business is in Warsaw – the Orange network operator, of part of agency agreements between the issuer and PTK concerning the issuer’s activities within the network of Orange stores (the POS agency agreement and the agency and franchising agreement).
The above terminations are an element of the procedure, adopted by PTK and previously communicated, for modifying the terms of cooperation with the agency network, and they apply to all agents of the Operator.
Before the termination notices were delivered, the Operator presented the issuer with a draft of a new POS Agency Agreement, which is to replace both of the terminated agreements, and the issuer’s Management Board sent to PTK its comments on the draft. It is the view of the Management Board that there are no threats to the issuer’s continued cooperation with the Operator.
In accordance with PTK’s statement delivered to the issuer together with the termination notices, it is also the Operator’s intention to conclude a new agency agreement without delay, before the termination notice expires. The new POS Agency Agreement will replace the existing agreements, in view of which the issuer does not anticipate any, in particular adverse, financial consequences as a result of the terminations effected by the Operator.
PTK’s termination notices will result in the agency agreements being terminated as of 30 April 2011.
The issuer will immediately communicate the conclusion of a new agency agreement concerning Orange stores in a separate report.
Legal basis: Art. 56 clause 1 item 2 of the Offering Act – Current and Periodical Information
Signed: Rafał Stempniewicz – President of the Management Board