3/2011 - Information on the conclusion of significant agreements

The Managing Board of the Trakcja Polska S.A. company (hereinafter “the Company”) hereby announces that on 18 January 2011 Przedsiębiorstwo Robót Kolejowych i Inżynieryjnych S.A. based in Wrocław (hereinafter “PRKiI”), a subsidiary of the Company, concluded three agreements with the Thales Polska Sp. z o.o. company based in Poznan (hereinafter “the Subcontractor”).

 

 

Value of the Agreement:

 

Total net value of the agreements made was PLN 86,658,035.

 

The Subcontractor gave PRKiI a 5% rebate from the value of remuneration.

 

The agreement of the highest value was the agreement of which the net value after the rebate deduction was: PLN 33,688,235 (hereinafter “the Agreement”).

 

The Subcontractor gave PRKiI a 5% rebate from the value of remuneration set forth in the Agreement.

 

 

 

Subject matter of the Agreement:

 

Pursuant to the agreement of 16 December 2010 concluded with PKP Polskie Linie Kolejowe S.A. in Warsaw (hereinafter: “the Client”) within the task: Design and performance of the construction works on the railway line Cracow-Medyka-country border, on its section Dębica – Sędziszów Małopolski at km 111,500 – 133,600 within the Project “Modernization of the E 30/C-E 30 railway line, Cracow-Rzeszow section, stage III” (Current Report  no. 44/2010 of 16 December 2010) the Subcontractor shall perform any relevant specialist works ordered by PRKiI (inter alia: railway traffic control systems and development of the design documentation for internal computer devices for the railway traffic control, with all necessary arrangements).

 

Time limit for the accomplishment of the Agreement:

 

The Subcontractor agrees to perform the works under the Agreement until 30.08.2013.

 

Contractual penalties:

 

1.   The Subcontractor shall pay PRKiI contractual penalties if the Client charges and deducts such penalties from PRKiI by fault of the Subcontractor; the amount of the penalty shall be:

w  0.1% of the gross total price set forth in this Agreement, after the rebate deduction, for each day of delay in the works in their particular phases;

w  0.1% of the gross total price set forth in this Agreement, after the rebate deduction, for each day of Subcontractor’s delay in starting to repair flaws/defects/faults within the period of warranty or the time limit set for repair.

w  0.1% of the gross total price set forth in this Agreement, after the rebate deduction, for each day of delay in performing the jobsite cleanup.

w  1% of the gross total price set forth in this Agreement, after the rebate deduction, for entering false information regarding the site manager license.

w  0.05% of the gross total price set forth in this Agreement after the rebate deduction, for each day beyond the date of determined track closures due to the reasons attributable to the Subcontractor.

2.   When such amounts result from a Subcontractor’s fault, the Subcontractor shall also pay the costs of:

-          delay in train traffic, resulting from the reasons attributable to the Subcontractor, caused by extended time of the planned closures of tracks and unplanned occupation of the tracks during the works,

-          train delays that occur as a result of defects in devices or other events caused by the Subcontractor,

-          the use of the substitute bus transport,

-          the use of locomotives for shunting ,

-          costs of timetable (development of a substitute timetable) during the track closure, under an invoice issued by PKP Polskie Linie Kolejowe S.A. Centrum Zarządzania Ruchem Kolejowym, according to the number of train-km for which the correction was made.

The costs that resulted from train delays shall be calculated according to the notessubmitted by the carriers, but the costs of the use of the substitute bus transport and use of locomotives for shunting – under invoices submitted by the carriers.

3.   The Subcontractor shall pay PRKiI the penalty of 10% of the gross total price set forth in this Agreement (after the rebate deduction), for the withdrawal from the Agreement due to the reasons attributable to the Subcontractor.

4.   The Subcontractor shall bear responsibility for the contractual penalties in the amount up to the gross remuneration set forth in the Agreement.

5.   The contractual penalties shall be payable within 3 days from the date of request for payment issued by PRKiI, to the bank account indicated in the debit documents.

6.   If the contractual penalties do not cover the damage, PRKiI reserves the right to pursue, according to general rules, the claim for supplementary compensation up to the amount of actual damage.

7.   PRKiI reserves the right to deduct the compensation, inter alia in the event when an amount payable for contractual penalties arises, from any amount payable or due to the Subcontractor.In such an event the Subcontractor authorizes also PRKiI to settle its claims from the performance bond.

 

Other terms do not differ from the market standards applicable for the agreements of this type.

 

The criterion used to deem the agreements significant is the fact that their total value has exceeded 10% of the Trakcja Polska S.A.’s equity capital

 

Legal grounds: § 5, section 1, clause 3 of the Regulation of the Minister of Finance of 19 February 2009 on current and regular information published by issuers of securities and the conditions for accepting information required by the provisions of the law of a state which is not a Member State as being equivalent. 

 

 

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