25/2010 - Information on the conclusion of an agreement

The Management Board of Trakcja Polska S.A. (the "Company") hereby announces that the Company concluded an agreement with Nordea Bank Polska S.A., with its registered office in Gdynia (“Bank”), on the award of a bank guarantee (“Agreement”).

 

Total value of the guarantee granted:PLN 95,297,116.95

 

 

Term of the guarantee:up to 31 October 2011

 

Subject of the Agreement:

 

According to the Agreement, the Bank is granting a guarantee for the refund of an advance of up to the total amount of PLN 95,297,116.95 to PKP Polskie Linie Kolejowe S.A. (hereinafter: “Guarantee”). The guarantee will secure the refund of the advance provided for in the contract on the performance of construction works for the comprehensive modernisation of stations and routes in the area of LCS Działdowo within the framework of the I&E OP Project 7.1-41 “Modernisation of the E 65/C-E 65 railway line on the Warsaw – Gdynia section – Area of LCS Działdowo”, the conclusion of which the Company reported in current report no. 9/2010 of 31 May 2010.

 

Payment terms:

 

The Bank collects a one-off arrangement fee for issuing the Guarantee at the amount specified in the Agreement, as well as a guarantee commission at the amount specified in the Agreement, which is payable annually. The guarantee commission will be payable for every commenced period of validity of the Guarantee. The guarantee commission will accrue each time on the current amount of the Guarantee.

 

Security for the award of the Guarantee:

 

The security for the Guarantee is:

 

a)     a bank or insurance guarantee, the beneficiary of which is the Bank and which is issued by an entity accepted each time by the Bank or the transfer of cash (deposit) to the Bank as its property at the amount of PLN 30,714,260.79;

b)     a surety from Przedsiębiorstwo Robót Kolejowych i Inżynieryjnych S.A., ul. Kniaziewicza 19, 50-950 Wrocław in the form and with the content accepted by the Bank;

c)     a power of attorney to the accounts held at the Bank;

d)     a declaration on the surrender to enforcement.

 

 

Legal grounds:Article 56(1)(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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