URSUS
On 26 April 2011 the Issuer has concluded with the company Bumar z o.o. a contract for the sale of tractors brand "URSUS", trademarks of "URSUS" and shares of URSUS sp. z o.o. for a total maximum price of PLN 15.421.036,00. While the sales price of trademarks “URSUS”, was PLN 8.1 million and shares of URSUS sp. z o.o. valuated at PLN 1. The price of third contract was set at PLN 7.321.035,00. but it could be reduced in the case of acquisition by the Issuer fewer tractors than that indicated on the contract.
Concluded agreements are closely linked. Their entry into force depends on the occurrence of the two precedent conditions - obtain the consent of the President of the UOKiK in the field of concentration and the approval of the Shareholders' Meeting of the Bumar to the conclusion by Bumar Ltd. above contracts. In the event of failure of the precedent conditions within six months from the date of conclusion of agreements, concluded an agreement will terminate. Upon termination of the contract because of the failure of the precedent conditions exhausted all liabilities and claims of the parties under the agreements. The fulfillment of the precedent conditions set out in the above contracts or the termination of the above agreements, the Issuer will inform in the current report, submitted after the occurrence of one of the above circumstances.
The decision to sign a contract for the acquisition of Ursus is the result of adopted and consistently pursued development strategy of the company, includes strengthening its position in the market, by using experience gained, which should be reflected in a significant increase in the domestic market share. The strategy involves the development by introducing new products to its assortment, positioning them at the domestic and international market, using of distribution channels and acquisitions of other entities. Examples of these objectives is launching a tractors POL-MOT H, and the Grand Tiger pickup truck, which retail sales is planned for June this year.
POL-MOT Warfama SA is one of the biggest Polish producers of agricultural equipment and the only company in the industry of agricultural machinery and equipment, which is listed on the Warsaw Stock Exchange. In 2009 the company received an approval certificate for a car ZX Auto – the trade name "Grand Tige". The Company has a factory in Dobre Miasto situated near Olsztyn and three divisions in Biedaszki Małe near Kętrzyn, in Lublin and in Opalenica near Poznań. The Company specializes in the production of roll balers, bale wrapping machines, manure spreaders, trailers, front loaders TUR and tractors. A wide range of products has been extended to technological line for production of ecological briquettes, which is currently the most efficient line of this type in the domestic market.