24/2010 - Information on the conclusion of a significant contract
The Management Board of Trakcja Polska S.A. (“Company”) hereby announces that, on 30 July 2010, Przedsiębiorstwo Robót Kolejowych i Inżynieryjnych S.A., with its registered office in Wrocław (“PRKiI”), a subsidiary of the Company, as the Proxy of the consortium consisting of:
1. Przedsiębiorstwo Robót Kolejowych i Inżynieryjnych S.A., with its registered office in Wrocław – Proxy of the Consortium;
2. Przedsiębiorstwo Budowlane “FILAR” sp. z o.o., with its registered office in Wrocław – Consortium Partner,
(hereinafter the “Contractor”)
concluded two contracts with the Municipality of Wrocław for and on behalf of the consortium which Wrocławskie Inwestycje sp. z o.o., with its registered office in Wrocław (hereinafter: “Contracting Authority”) is representing, as a part of the task named: “Construction of an integrated transfer node in the region of the EURO 2012 Stadium – EURO 2012 Stadium node – Task 5.2. within the framework of the project named Integrated Rail Transport System in the Wrocław Agglomeration – stage I”,
Total gross value of the Contracts signed: PLN 44,863,423.13
Subject of the Contract:
According to the Contract of the higher gross value: PLN 41,675,721.50 (hereinafter: “Contract”) the Contractor shall perform sectoral works related to the construction of an integrated transfer node in the region of the EURO 2012 stadium.
Timing of Contract Performance:
Up to 12 months from the date of signature of the Contract.
Payment terms:
The fee shall be paid against invoices issued by the Contractor, to its bank account specified in the Contract.
Performance Bond
The Contracting Authority set the Contract performance bond at a level of 10% of the gross Contract value.
The performance bond shall be released and returned to the Contractor in the following manner:
a) 70% of the performance bond within 30 days of the date of completion of the Contract and its acknowledgement by the Contracting Authority of having been duly performed;
b) 30% of the performance bond no later than 15 days from the expiry of the term of the warranty for defects.
Contractual penalties:
The Contractor shall pay the Contracting Authority contractual penalties in the following cases and at the following amounts:
1) for failing to meet the deadline for the completion of the works encompassed by the subject of the Contract - 0.1% the gross Contract fee, for every day of delay;
2) for failing to meet the intermediate deadlines – 0.05% of the gross Contract value for every day of delay;
3) for every day of delay in eliminating the defects disclosed during the period for reporting defects – 0.05% of the gross Contract value for every day of delay calculated from the passage of the deadline set for eliminating the defects until the date on which the repairs are completed by the Contractor or a third party;
4) for the Contractor’s failure to deliver the schedule in accordance with the provisions of the Contract – PLN 5,000 for every day of delay for the first 7 days and PLN 10,000 for every day of delay starting from the 8th day;
5) for failing to correct the schedule, which the engineer nominated by the Contracting Authority refused to accept, within 5 business days – PLN 5,000 for every day of delay for the first 7 days and PLN 10,000 for every day of delay starting from the 8th day;
6) for failing to deliver an updated schedule – PLN 5,000 for every day of delay for the first 7 days and PLN 10,000 for every day of delay starting from the 8th day;
7) for failing to deliver the occupational safety and health plan within the deadline specified in the Contract – PLN 2,500 for every day of delay for the first 7 days and PLN 5,000 for every day of delay starting from the 8th day;
8) for failing to deliver the quality assurance system within the deadline specified in the Contract – PLN 2,500 for every day of delay for the first 7 days and PLN 5,000 for every day of delay starting from the 8th day;
9) for failing to correct the quality assurance system, which the engineer nominated by the Contracting Authority refused to accept, within 3 business days – PLN 2,500 for every day of delay for the first 7 days and PLN 5,000 for every day of delay starting from the 8th day;
10) for withdrawal from the Contract for reasons for which the Contractor is responsible – 10% of the gross Contract value.
The Contracting Authority has reserved the right to sum the contractual penalties.
The Contracting Authority has reserved the right to claim supplementary compensation to the level of damages actually incurred.
Contractual penalties cannot be charged if the delay is a consequence of circumstances for which the Contactor is not liable, in particular as a result of the Contracting Authority’s actions and omissions.
The value of the above contracts 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 published by issuers of securities and the conditions for accepting the information required by the provisions of the law of a state which is not a Member State as being equivalent (Journal of Laws 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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