Current Reports

50/2009 - Information on the conclusion of a contract

The Management Board of Trakcja Polska S.A. (the "Company") hereby announces that the Company concluded a contract (“Contract”) with Bombardier Transportation (ZWUS) Polska sp.  z o.o.,  with its registered office in Katowice (the “Contractor”).

 

Net Contract value: PLN 34,999,999.48

 

Gross Contract value: PLN 42,699,999.37


Subject of the Contract:

 

According to the Contract, the Contractor shall provide the specialist sectoral services specified in the Contract  to the Company.

 

Payment terms:

 

Payments shall be made to the bank account specified by the Contractor in the invoice within 37 business days of the date on which the contractor presents a correctly issued invoice.

 

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

 

Liquidated damages:

                    

The Contractor shall pay the Company liquidated damages:

 

1.     for exceeding the deadline for completing the works - 0.05 % the gross fee specified in the Contract, for every day of delay;

2.     for exceeding the deadlines for the milestones agreed in the contract – 0.05 % of the gross fee specified in the Contract for every day of delay;

3.     for exceeding the deadline set for eliminating defects found at the time of acceptance or in the warranty period at an amount of 0.05% of the gross fee specified in the Contract, for every day of delay from the date specified in the Contract for completing the repair of defects;

4.     for the Company’s withdrawal from the Contract for reasons for which the Contractor is responsible, at the amount of 10% of the gross fee specified in the Contract;

5.     for the failure to perform any one of the contractual obligations after prior written one-time demand by the Company’s representative, at the amount of 0.01% of the gross fee specified in the Contract, for every such shortcoming;

6.     the Contractor shall only pay the Company the liquidated damages referred to in points 1, 2 and 3 if the Company is forced to pay such liquidated damages to the General Contractor.

 

The Company shall pay the Contractor liquidated damages:

 

1.     for the Company’s withdrawal from the Contract for reasons for which the Company is responsible, at the amount of 10% of the gross fee specified in the Contract with the exception of cases of the appearance of a significant change in circumstances resulting in the performance of the Main Contract not lying in the public interests and similarly, its termination by the Investor.

 

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 Company reserves the right to file for supplementary compensation up to the level of the damage actually suffered.

 

The Company has the right to withdraw from filing for liquidated damages.

 

The value of the above Contract is greater than 10% of Trakcja Polska S.A.’s equity and therefore constitutes a significant contract, as defined by § 2(1)(44) 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) of the Act on Public Offering and the Conditions for the Introduction of Financial Instruments into an Organised Trading System and Listed Companies of 29 July 2005 (Journal of Laws No. 184, item 1539, as amended).

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