81/2022 - Information on conclusion of significant agreement by AB Kauno Tiltai

The Management Board of Trakcja S.A. (“Company” or “Issuer”) informs that on 21 October 2022 AB Kauno Tiltai, a subsidiary of the Issuer, with its registered office in Lithuania (“Contractor”) and Litewski Zarząd Dróg with its registered office in Lithuania (“Contracting Party”) concluded an agreement for the construction works to be carried out under the project named: “Reconstruction of the Highway Section A1 Wilno – Kowno – Kłajpeda from 99.03 km to 100.47 km (the central bridge over the Wilia river)”, consisting in the reconstruction of the central bridge over the Wilia river (“Agreement”).

The total net value of the Agreement is EUR 56,504,583.55 (PLN 270,967,730.41) and a conditional payment under the Agreement is up to 10% of its value, i.e. up to EUR 5,650,458.35 (PLN 27,096,773.04). The works are to be completed within 23 months from the effective date of the Agreement, i.e. after the signing by both parties and the submission by the Contractor of a document that guarantees the completion of the Agreement.

The remaining terms of the Agreement do not deviate from the terms generally applied to similar agreements.

The Issuer’s Management Board decided to disclose this information, because the aforementioned agreement forms significant part of the contract portfolio performed by Trakcja Group and AB Kauno Tiltai, a subsidiary of the Issuer, and because it affects current and future revenues and performance of Trakcja Group and AB Kauno Tiltai.
 

Legal basis:
Article 17 of the MAR