87/2019 - Information about the conclusion of an agreement by a subsidiary, AB Kauno tiltai

The Management Board of Trakcja PRKiI S.A. (”Company”, “Issuer”) hereby informs that today it was notified about the signing of an agreement by the Issuer’s subsidiary – AB Kauno tiltai (based in Lithuania) with Lithuanian Railways (”Contracting Party”) for the performance of construction works entitled “Construction of the Second Section of the Plungė-Šateikiai Railway Road” (”Agreement”).

The total net value of the agreement is EUR 46,699,999.99 (PLN 198,885,959.96). The works being the subject of the Agreement shall be performed within 1,150 days from the works commencement date.

The works commencement date shall fall within 14 days from the effective date of the Agreement. The Agreement shall become effective upon signing, submission of a bank guarantee, an insurance, and a document confirming registration for the VAT in the Republic of Lithuania. Other conditions of the Agreement do not deviate from terms generally applied in such types of agreements.

The Issuer’s Management Board decided to announce this notice because the value of the Agreement represents a substantial share in the portfolio of contracts executed by the subsidiary, AB Kauno tiltai, and affects the level of the Issuer’s present and future revenues and results.

Legal basis:

Article 17 of the Market Abuse Regulation (MAR)