33/2010 - Information on the conclusion of a significant contract
The Management Board of Trakcja Polska S.A. (the "Company") hereby announces that, on 2 November 2010, the Company, as a Partner of the consortium consisting of:
1. Firma Budowlano – Drogowa MTM S.A., with its registered office in Gdynia – Proxy of the Consortium;
2. Trakcja Polska S.A., with its registered office in Warsaw – Consortium Partner;
(hereinafter, jointly the “Contractor”)
concluded a contract with the Municipality of the City of Gdańsk, represented by Gdańskie Inwestycje Komunalne sp. z o.o. and the Director of the City of Gdańsk Expansion Directorate in Gdańsk [Dyrekcja Rozbudowy Miasta Gdańska w Gdańsku] (hereinafter the “Contracting Authority”), within the framework of the task named:Comprehensive construction and assembly works with regard to:
1) the construction of a tramline in the district of Gdańsk Południe from the Chełm terminus through ul. Witosa and ul. Nowa Łódzka to the “Nowa Łódzka” integrating terminus, measure 1.1, as a part of the Gdańsk Local Transport Project [Gdański Projekt Komunikacji Miejskiej] – stage III A;
2) the construction of ulica Nowa Łódzka in Gdańsk, co-financed with the European Regional Development Fund within the framework of the Regional Operational Programme for the Pomeranian Voivodship for 2007–2013,
(hereinafter: “Contract”).
Contract Value:
Total net Contract value:PLN 90,952,104.86 (in words: ninety million, nine hundred and fifty-two thousand, one hundred and four and 86/100 zlotys);
Total gross Contract value:PLN 110,961,567.93 (one hundred and ten million, nine hundred and sixty-one thousand, five hundred and sixty-seven and 93/100 zlotys);
Proportion of the net Contract value attributable to the Company: PLN 35,384,274.40 (thirty-five million, three hundred and eighty-four thousand, two hundred and seventy-four and 40/100 zlotys);
Proportion of the gross Contract value attributable to the Company: PLN 43,168,814.78 (forty-three million, one hundred and sixty-eight thousand, eight hundred and fourteen and 78/100 zlotys);
Subject of the Contract:
According to the Contract, the Contractor shall perform discipline-specific work related to the performance of construction and assembly works on:
1) The construction of a tramline in the district of Gdańsk Południe from the Chełm terminus through
ul. Witosa and ul. Nowa Łódzka to the “Nowa Łódzka” integrating terminus, measure 1.1, as a part of the Gdańsk Local Transport Project [Gdański Projekt Komunikacji Miejskiej] – stage III A, which is applying for co-financing from the European Cohesion Fund in the Infrastructure and Environment Operational Programme;
2) The construction of ulica Nowa Łódzka in Gdańsk, co-financed with the European Regional Development Fund within the framework of the Regional Operational Programme for the Pomeranian Voivodship for 2007–2013,
Timing of Contract Performance:
18 months from the date of signature of the Contract.
Contractual penalties:
The Contractor shall pay the Contracting Authority liquidated damages for delays in the following cases and at the following amounts:
1. for the late completion of the subject of the contract at the amount of PLN 20,000 for every calendar day of delay;
2. for the late elimination of defects or faults contained in the Final Acceptance Protocol at the amount of PLN 10,000 per calendar day of delay with respect to the deadline set by the Contracting Authority in the Final Acceptance Protocol;
3. for the late elimination of defects or faults contained in the subject of the contract during the warranty and quality guarantee period at the amount of PLN 10,000 per calendar day of delay with respect to the deadline set by the Contracting Authority;
4. for the Contractor’s non-performance or improper performance of its obligations resulting in a withdrawal from the Contract for reasons for which the Contractor is responsible at the level of 10 % of the value of the Contractor’s gross fee.
The payment or charging of the contractual penalties specified above does not eliminate the ability of the Contracting Authority to seek compensation from the Contractor in excess of the amounts of contractual penalties paid to or charged by the Contracting Authority.
The contractual penalties may be offset against the Contractor’s fee or may be claimed in court, according to the Contracting Authority’s choice. Claims from contractual penalties are due and payable immediately without a separate demand on the Contractor.
The value attributable to the Company 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 [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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