23/2010 - Information on the conclusion of a significant contract
The Management Board of Trakcja Polska S.A. (the "Company") hereby announces that the Company concluded contract No. P 1102/2010 (“Contract”) with Bombardier Transportation (ZWUS) Polska sp. z o.o., with its registered office in Katowice (the “Contractor”) on 27 July 2010.
Net Contract value:PLN 76,800,000.00.
VAT at the appropriate level should be added to the net amount.
Date of completion of the works:25 February 2012
Subject of the Contract:
According to the Contract, the Contractor shall perform the specialist sectoral works specified in the Contract, together with the preparation of the implementation plans and the post works designs of railway traffic control devices for the Company.
Payment terms:
The Contractor shall issue VAT invoices for works completed and accepted once a month for a net amount arising from the acceptance protocol of the completed elements of the works.
Contract performance bond:
The Contractor shall provide a performance bond for a value of 10% of the gross Contract value within a deadline of 7 days from the date of signature of the Contract.
Contractual penalties:
The Contractor shall pay the Company contractual penalties:
- The Company is entitled to charge a contractual penalty at the amount of 0.05% of the net Contract value for every commenced day of delay for the Contractor exceeding the deadline for the performance of the contract through its fault. In the event that the delay through the Contractor’s fault exceeds 30 days, the Company is entitled to withdraw from the contract without incurring any financial or legal consequences with respect to the Contractor.
- The Company is entitled to charge a contractual penalty at the amount of 0.05% of the net Contract value for every commenced day of delay for exceeding the deadline for the elimination of faults / defects / shortcomings during the guarantee period.
- The Contractor shall pay the Company a contractual penalty at the amount of 10% of the net Contract value for either party withdrawing from the Contract through the Contractor’s fault.
The Company shall pay the Contractor contractual penalties:
1. At the amount of 0.05% of the net Contract value for every commenced day of delay in handing over the construction site.
The maximum value of the contractual penalties cannot exceed 10% of the net fee specified in the Contract. In the event that the contractual penalties do not cover the damage, the Parties have reserved the right to file to claim supplementary compensation up to the level of the damage actually suffered.
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 regular information submitted by issuers of securities and conditions for accepting information required by the provisions of the law of a state which is not a Member State as being equivalent (Journal of Laws [Dz. U.] No. 23, item 259, as amended).
Legal grounds:§ 5(1)(3) of the Regulation of the Minister of Finance of 19 February 2009 on current and regular information published by issuers of securities and the conditions for accepting information required by the provisions of the law of a state which is not a Member State as being equivalent.
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