28/2010 - Information on the conclusion of a significant contract

The Management Board of Trakcja Polska S.A. (the "Company", “Leader”) hereby announces that, on 6 September 2010, the Company, in connection with the performance of a contract for the task of:

 

The performance of construction works for the comprehensive modernisation of the stations and routes in the area of LCS Działdowo, within the framework of the E&I OP 7.1-41 project:

“Modernisation of the E65/C-E65 railway line, Warsaw – Gdynia section – area of LCS Działdowo” (”Contract”)

 

the conclusion of which the Company announced in current report no. 9/2010 of 31 May 2010, concluded an Agreement for the performance of some sectoral works (“Agreement”) within the framework of the Contract with the Partner, of the Trakcja Polska Consortium, Zakład Robót Komunikacyjnych – DOM w Poznaniu sp. z o.o., with its registered office in Poznań (hereinafter: “Partner”).

 

Net Agreement value:PLN 34,527,726.03 (thirty-four million five hundred and twenty-seven thousand, seven hundred and twenty-six zlotys 03/100)

 

 

Payment terms:

 

The Partner 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.

Advance:

 

The Partner is withdrawing from the advance assigned to the Partner to the benefit of the Leader. The advance which has been provided is being assigned for the financing of the purchase of the materials required for the performance of the subject of the Agreement, for the Partner by the Leader.

Contractual penalties:

 

The Agreement does not provide for contractual penalties.

The Agreement has been acknowledged a significant agreement because its value exceeds 10% of the value of Trakcja Polska S.A.’s equity.

 

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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