52/2021 - Information on the conclusion of a settlement

The Management Board of Trakcja S.A. (the ”Company”, the ”Issuer”) with reference to current report No. 2/2019 of 7 February 2019 informs that today a settlement (the ”Settlement”) has been bilaterally signed by the Issuer, as Leader of the Consortium composed of:
- Trakcja S.A. – Leader of the Consortium;
- COMSA S.A.U.  – Partner of the Consortium;
(the ”Contracting Party”) with the Municipality of Kraków, represented by the Director of the Road Administration of the City of Kraków (the ”Ordering Party”) to an agreement on the execution of construction works:
”Reconstruction of the tram tracks throughout the Krakowska Street on the section from the Rollego Street to the Dietla Street along with the reconstruction of the existing road system, sidewalks, paths, the accompanying technical infrastructure, the junction of switches Krakowska-Dietla-Stradomska along with the reconstruction of the Dietla Street on the section from the Bożego Ciała Street to the Augustiańska Street along with the  reconstruction of the existing Piłsudskiego Bridge across the Vistula River” (the ”Agreement”).
During the implementation of the contract objects under the protection of the monument conservator were found, which had a significant impact on the execution of the planned works.

The change resulting from the Settlement concerns additional remuneration – the Ordering Party undertakes to pay the Contracting Party the amount of PLN 2 690 972.01 net on account of additional costs, the estimated impact on the results of the Company is about PLN 2 100 000.

The remaining terms and conditions of the Settlement do not differ from the terms and conditions commonly used for this type of agreements.

The Management Board of the Issuer decided to publish this information, because the comprehensive execution of the abovementioned contract represents an essential share in the book of orders carried out by the Issuer regarding tram and trolleybus infrastructure and is a step in the strategy of the Company’s renewed involvement in urban investments.  
 

Legal basis:
Article 17 of the MAR