30/2010 - Information on the conclusion of a significant contract
The Management Board of Trakcja Polska S.A. (“Company”) hereby announces that, on 28 September 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. 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., ul. Rapackiego 14, 59-400 Jawor – Consortium Partner
3. Kolejowe Zakłady Nawierzchniowe “Bieżanów” sp. z o.o.,with its registered office in Kraków – Consortium Partner
(hereinafter the “Contractor”)
concluded a contract with PKP Polskie Linie Kolejowe S.A.,on behalf of which PKP Polskie Linie Kolejowe S.A. Centrum Realizacji Inwestycji(hereinafter: “Contracting Authority”) is operating within the framework of the task:“Modernisation of the track system and elements of the railway infrastructure managed by PKP PLK S.A. (with the exception of platforms, platform roofs and tunnel crossings) at the Wrocław Główny station”, as a part of the investment task named “Modernisation of the track system and elements of the railway infrastructure within the area of the Wrocław Główny station” (hereinafter: “Contract”).
Contract Value:
Total net Contract value:PLN 40,231,046.81 (forty million, two hundred and thirty-one thousand and forty-six zlotys and 81/100);
Total gross Contract value:PLN 49,081,877.11 (forty-nine million, eighty-one thousand, eight hundred and seventy-seven zlotys and 11/100).
Subject of the Contract:
Under the Contract, the Contractor shall conduct discipline-specific works related to the modernisation of the track system and elements of the railway infrastructure managed by PKP PLK S.A. (with the exception of platforms, platform roofs and tunnel crossings) at the Wrocław Główny station, as a part of the investment task named “Modernisation of the track system and elements of the railway infrastructure within the area of the Wrocław Główny station”.
Timing of Contract Performance:
18 months from the date of award of the order.
Payment terms:
The fee shall be paid against invoices issued by the Contractor, to the bank account specified in the invoice.
Performance Bond
The Contracting Authority set the Contract performance bond at a level of 10% of the price offered, i.e.PLN 4,908,187.71 (in words: four million, nine hundred and eight thousand, one hundred and eighty seven zlotys and 71/100) in the form of an insurance guarantee.
The Contract performance bond shall be released and returned to the Contractor in the following manner:
a) 70% of the value of the performance bond within 30 days of the date of final acceptance of the works and the acknowledgement by the Contracting Authority that the works were performed properly;
b) 30 % of the value of the performance bond no later than 15 days from the expiry of the term of the warranty for defects.
Liquidated damages:
The Contractor shall pay the Contracting Authority liquidated damages in the following cases and at the following amounts:
- The Contracting Authority shall charge liquidated damages at the amount of 0.1% of the gross value of the incomplete Contract for every day of delay for late performance of the order, performance in a manner which is inconsistent with the performance of the subject of the Contract or performance in a manner which is inconsistent with the order.
- The Contractor shall pay the Contracting Authority liquidated damages at the amount of 10% of the gross Contract value for the non-performance of the contract.
- The Contracting Authority shall charge liquidated damages at the amount of 0.1% of the gross value of guarantee repairs for every day of delay for late performance of the guarantee obligations or performance in a manner which is inconsistent with the conditions for the acceptance of the works.
- If the actual damage arising form the non-performance of the Contract or the improper performance of the Contract exceeds the amount of the liquidated damages charged, the Contracting Authority may demand compensation in excess of the level of the reserved penalty.
- The Contractor undertook to cover the costs of delays of trains and substitute transport for carriers with which PKP PLK S.A. has signed contracts on the use of the allocated train routes, together with the attachment named “Principles of charging liquidated damages and settlements for the improper performance of the travel schedule” in the following cases:
a) the failure to observe a 35-day deadline for applying to the Contracting Authority to grant a closure of the tracks, which requires a change in the travel schedule, if this causes train delays;
b) the failure to complete the works within the previously reported deadline, which results in the extension of the closure of the track and the appearance of train delays;
c) for reductions in speeds, which result in train delays;
d) for causing defects in the rail traffic control equipment, which result in train delays;
e) for delays arising as a result of a closure of tracks or work on active rail traffic control equipment without a change in the travel schedule;
f) for delays arising as a result of an accident or a railway incident which arises through the Contractor’s fault;
g) other train delays which arise through the Contractor’s fault.
6. The Contractor shall not be liable for train delays arising in the following cases:
a) for reductions in speed provided for in the “Temporary regulations for railway traffic operated during the works” or on the date on which a request is filed to close tracks, with the observance of the deadline;
b) for the extension of the closure of the tracks for reasons for which the Contracting Authority is responsible;
c) for damage to the rail traffic control and management equipment, if this is not included in the documentation.
- The costs arising from train delays shall be charged through charge notes issued by PKP PLK S.A. to the Project Implementation Centre in Wrocław, PKP Polskie Linie Kolejowe S.A., on the basis of the “MAINTENANCE WORK REGISTRATION SYSTEM”, while the costs of introducing substitute bus transport and the use of locomotives for drawing trains shall be charged in accordance with the invoices presented by the carriers.
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 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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