7/2010 - Information on the conclusion of a significant contract
The Management Board of Trakcja Polska S.A. (“Company”) hereby announces that on 26 April 2010, Przedsiębiorstwo Robót Kolejowych i Inżynieryjnych S.A., with its registered office in Wrocław, a subsidiary of the Company, as the leader of the PRKiI – INFRAKOL CONSORTIUM (“Consortium”) consisting of:
1. Przedsiębiorstwo Robót Kolejowych i Inżynieryjnych S.A.
ul. Kniaziewicza 19, 50-950 Wrocław – Partner no. 1 (Consortium Leader);
2. Jan Paruch, registered under the number 478 in the register of business activities at the Mściwojów Municipal Council;
Zenon Buca, registered under the number 4280 in the register of business activities at the Jawor Municipal Council;
Sławomir Paruch, registered under the number 512 in the register of business activities at the Mściwojów Municipal Council;
managing:
Przedsiębiorstwo Budownictwa Kolejowego i Inżynieryjnego “INFRAKOL” S.C. (address: ul. Rapackiego 14, 59-400 Jawor) (Partner no. 2)
(jointly referred to as the “Contractor”),
as a result of proceedings conducted in the procedure of an unlimited tender, concluded an agreement with PKP Polskie Linie Kolejowe S.A., with its registered office in Warsaw, on behalf of which Centrum Realizacji Inwestycji, branch in Poznań (“Contracting Authority”) was acting, for the fulfilment of an order for the design and fulfilment of construction works encompassed by the task named “Modernisation of railway line no. 358 on the Zbąszynek – Czerwieńsk section with the construction of the Pomorsko – Przylep railway siding, bypassing the Czerwieńsk station – Stage I”.
Net contract value: PLN 57,565,711.77
Gross contract value:PLN 70,230,168.36
Deadline for the completion of the works:30 months from the date of signature of the contract
Security for the performance of the contract:
The Contractor shall provide a performance bond on the agreement for a value of 5% of the gross price. 70% of the value of the security shall be released within 30 days of the final acceptance and the Contracting Party’s acceptance that the works have been properly performed.
Payment terms:
Settlements for the performance of the subject of acceptance shall take place against interim invoices issued after the end of each month, whereby they may only apply to items specified in the contract.
The invoice shall be issued against an Interim Payment Certificate prepared in accordance with the terms and conditions of the contract.
The last invoice for the fulfilment of the task being the subject of the contract must be issued for at least a (gross) amount of 10% of the price specified in the contract.
Payment term:the Contractor’s invoice payment term shall be 30 days.
Advance:
An advance may be paid to the Contractor at the amount of 20% of the (gross) price after the submission of the required documents specified in the terms and conditions of the contract.
Liquidated damages:
The Contractor shall pay the Contracting Authority contractual compensation at the amount of 0.02% of the gross contract value for every day of delay in the performance of the contract.
The total amount of liquidated damages for the delay shall not exceed 10% of the gross contract value.
Compensation for exceeding the duration of closures of the tracks for every commenced hour of extension of the closures during the assigned closures of the tracks at the amount of PLN 1,000 (with the exception of the half-yearly closure of the lines.
Contractual compensation for a delay in making the construction site available amounts to 0.005 % of the total gross value per day.
The Parties have reserved the right to claim supplementary compensation in excess of the value of the liquidated damages to the value of the damage actually incurred. The payment of contractual compensation shall not exclude the Contractor’s liability for the non-performance or improper performance of the contract.
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 [Dz.U.] No. 23, item 259).
The Company announced the selection of the proposal regarding the proceedings described in this report in current report no. 4/2010 of 16 March 2010.
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 [Dz.U.] No. 184, item 1539, as amended).
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