34/2010 - 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 the Proxy of the consortium consisting of:
1. Trakcja Polska S.A., with its registered office in Warsaw – Consortium Proxy;
2. Przedsiębiorstwo Napraw i Utrzymania Infrastruktury Kolejowej w Krakowie sp. z o.o., with its registered office in Krakow – Consortium Partner;
(hereinafter, jointly the “Contractor”)
concluded a contract with PKP Polskie Linie Kolejowe S.A. Centrum Realizacji Inwestycji, (hereinafter “Contracting Authority”) within the framework of the task:Design and performance of construction works on the Krakow – Medyka – state border railway line on the Podłęże – Bochnia section at km 16.000 – 39.000 within the framework of the project named “Modernisation of the E 30/C-E 30 railway line, Krakow – Rzeszów section, stage III”, (hereinafter: “Contract”).
Contract Value:
Total net Contract value:PLN 588,694,569.27 (in words: five hundred and eighty-eight million, six hundred and ninety-four thousand, five hundred and sixty-nine and 27/100 zlotys);
Total gross Contract value:PLN 718,207,374.51 (seven hundred and eighteen million, two hundred and seven thousand, three hundred and seventy-four zlotys and 51/100 zlotys).
Subject of the Contract:
Under the Contract, the Contractor shall perform discipline-specific works related to the design and performance of construction works on the Krakow – Medyka – state border railway line on the Podłęże – Bochnia section at km 16.000 – 39.000 within the framework of the project named “Modernisation of the E 30/C-E 30 railway line, Krakow – Rzeszów section, stage III”,
Timing of Contract Performance:
40 months from the date of the start of works (in accordance with the Contract), but no later than by 31/01/2014.
Period of warranty for defects
1 year
Liquidated damages:
The Contractor shall pay the Contracting Authority liquidated damages in the following cases and at the following amounts:
1. The Contracting Party shall charge contractual penalties for the late completion of the contract at the amount of 0.1% of the gross Contract value per day of delay.
2. The Contractor shall pay liquidated damages of 1% of the total gross price for the presentation of untrue information on the qualifications of the management staff.
3. The Contractor shall pay the Contracting Authority liquidated damages at a level of 0.05% of the gross Contract value per day for exceeding the period of track closures with respect to the applicable Detailed Schedule of track closures.
The Contractor shall also cover the costs of:
- train delays arising from reasons for which the Contractor is responsible, caused by the extension of the planned duration of the track closures and the unplanned occupation of the tracks during the works;
- train delays which arise as a result of defects in the devices or other events caused by the works Contractor;
- the introduction of substitute bus transport;
- the use of locomotives for pulling trains;
- the costs of the train schedule (development of a replacement schedule) for the closure of the tracks on the basis of an invoice issued by PKP Polskie Linie Kolejowe S.A. Centrum Zarządzania Ruchem Kolejowym, in accordance with the number of train-km of trains according to the invoices presented by the carriers.
The costs arising from train delays shall be charged according to the notes presented by the carriers, while the costs of introducing substitute bus transport and the use of locomotives for pulling trains shall be charged according to the invoices presented by the carriers.
The charges for correcting the train schedule shall be issued each time when the changes are ordered, regardless of whether or not the Contractor has started work. The only exceptions can be situations caused by a crisis situation.
4. Maximum amount of liquidated damages – 15 % of the gross Contract value.
5. The parties to the Contract have reserved the right to claim supplementary compensation in excess of the value of the contractual penalties up to the value of the damage actually incurred.
6. The contractual penalties and liquidated damages shall be paid in the first instance by means of an offset against the Contractor’s fee.
The value of the above Contract attributable to Trakcja Polska S.A. 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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