43/2009 - Information on the conclusion of significant contracts

The Management Board of Trakcja Polska S.A. (the "Company") hereby announces that the Company concluded the following contracts on 16 October 2009 with TCHAS Polska sp. z o.o., with its registered office in Warsaw (the “Customer”):

 

1.   Supply Contract No. Trakcja DST/1/CIECHANÓW (“Contract”) of a net value of PLN 16,846,442.30

2.   Subcontract Contract No. TRAKCJA 1/CIECHANÓW/2009 of a net value of PLN 8,236,118.20

3.   Cooperation Contract TRAKCJA/1/WSP/CIECHANÓW of a net value of PLN 15,359,629.32

 

The total net value of the Supply Contract, Subcontract Contract No. TRAKCJA 1/CIECHANÓW/2009 and Cooperation Contract TRAKCJA/1/WSP/CIECHANÓW is PLN 40,442,218.82.

 

Of the contracts signed, the Supply Contract has the highest value.

 
Subject of the Contract:

 

According to the Contract, the Company (“Supplier”) shall supply and the Customer shall purchase the goods specified in the Contract.

 

Payment terms:

 

The fee shall be paid against invoices issued by the Supplier, to its bank account specified in the invoices.

 

Payments shall be made to the bank account specified by the Supplier in the invoice.

 

The invoice payment date shall be the date on which the Supplier’s account is credited.

Liquidated damages:

 

In the event of a delay by the Supplier in fulfilling the performances in whole or in part, the Customer shall set an additional deadline for the performance of the Contract and, in the event of its ineffective passage, it may demand the payment of liquidated damages.

The level of the liquidated damages is:

-   for late fulfilment of the subject of the contract – 0.05% of the gross contractual price per day of delay;

-   for late elimination of defects during the warranty period – 0.05% of the gross contractual price per day of delay;

-   for withdrawal from the contract for reasons for which the Supplier is responsible – 10% of the gross contractual price.

Charging the liquidated damages does not deprive the Customer of the right to claim for the remedy of the actual damage.

 

The maximum value of the liquidated damages cannot exceed 10% of the gross fee specified in the Contract.In the event that the liquidated damages do not cover the damage, the Customer reserves the right to file for supplementary compensation up to the level of the damage actually suffered.

 

The contract value is greater than 10% of Trakcja Polska S.A.’s equity and therefore constitutes a significant contract within the meaning of § 2(1)(45) of the Regulation of the Minister of Finance of 19 February 2009 on current and periodic information submitted by issuers of securities and conditions for acknowledging the information required by the provisions of the law of a non-member state as being equivalent (Journal of Laws No. 23, item 259).

 

Legal grounds:Article 56(1)(2) of the Act on the public offering and the conditions for introducing financial instruments into an organised trading system and on listed companies.

 

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