4/2018 - Information on concluding an agreement by the subsidiary AB Kauno tiltai

The Management Board of the company Trakcja PRKiI S.A. (“the Company”, “the Issuer”) informs that today it was notified of signing an agreement by the Issuer’s subsidiary – AB Kauno tiltai (with its registered office in Lithuania) with AB Litgrid regarding project for “procurement of design and contract works – optimisation of the North-East Lithuania electricity transmission grid and its preparation for operation in the synchronous grid of Continental Europe (procurement No. 189494)”. The Agreement has been concluded under a consortium and the agreement’s net value amounts to EUR 23,920,000 (PLN 100,385,064). The planned net share of AB Kauno tiltai amounts to EUR 17,020,000 (PLN 71,427,834). The works are to be completed  within 36 months from the date of the commencement of work.

The Management Board of the Issuer decided to publish this information, since the Issuer’s subsidiary’s share in the Agreement’s value constitute an important share in the portfolio of contracts executed by the subsidiary AB Kauno tiltai and has an impact on maintaining current and increasing future revenues and results of the Issuer.

Legal grounds:

Article 17 of MAR