40/2010 - Information on the conclusion of a significant contract

The Management Board of Trakcja Polska S.A. (the “Company”) hereby announces that on 30 November 2010 the Company, in connection with the implementation 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 Execution Agreement on the performance of some of the discipline-specific works (“Agreement”), as a part of the Contract, with Trakcja Polska’s Consortium Partner, Przedsiębiorstwo Robót Komunikacyjnych w Krakowie S.A. (hereinafter: “Partner”).

 

The Agreement was concluded in connection with the reduction in the scope of the Execution Agreement concluded by and between the Company and ZUE S.A., with its registered office in Krakow, which the Company reported in current report no. 39/2010 of 1 December 2010.

 

 

Net Agreement value:PLN 105,951,702.82 (one hundred and five million, nine hundred and fifty-one thousand, seven hundred and two zlotys 82/100)

 

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 shall receive an advance at the gross amount of PLN 12,926,107.74 (twelve million, nine hundred and twenty-six thousand, one hundred and seven zlotys 74/100). The Advance shall be transferred to the Partner by ZUE S.A., with its registered office in Krakow, under an annex to the Execution Agreement of 20 August 2010 concluded by and between the Company and ZUE S.A., with its registered office in Krakow, about which the Company reported in current report no. 39/2010 of 1 December 2010.

 

The Agreement does not contain significant liquidated damages.

The value of the above Agreement is greater than 10% of Trakcja Polska S.A.’s equity and therefore constitutes a significant agreement, 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).

 

 

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. 

Back to list