23/2017 - Information on contract settlement agreement

The Management Board of Trakcja PRKiI S.A. (hereinafter referred to as: “the Company”) informs that on 22 December 2017 the Agreement was bilaterally signed by PKP Polskie Linie Kolejowe S.A. (“PKP PLK”) and Contractors represented by the Company (the Consortium Leader) in order to settle the Contract no. 90/119/0002/11/Z/I of 27.05.2011 on the execution of construction works regarding modernisation of the railway line no. 9 at the section between 236,920 km and 287,700 km covered with the area of the Computer Based Interlocking with its registered office in Malbork (Contract). The Company informed about concluding the Contract with current report no. 35/2011 of 27.05.2011.

The Agreement was concluded with regard to the claims raised by the Contractor related with the settlement of works and the reimbursement of costs resulting from prolonging the Contract.

Total amount of the Agreement is PLN 19,538,558.89.  Estimated value that shall have a significant impact on the standalone and consolidated gross result for 2017 shall amount to at least PLN 13.2 million.

The final impact on the aforementioned agreements on 2017 results of Trakcja Group and Trakcja PRKiI S.A. shall be included in the standalone and consolidated annual report for 2017.

Legal grounds: Article 17 MAR