72/2011 - Information about the conclusion of a material agreement
The Management Board of Trakcja - Tiltra S.A. (the "Company") hereby announces that on 27 September 2011, the Company’s subsidiary - Poldim S.A. with its registered office in Tarnow ("Poldim"), acting as Partner to the consortium composed of:
1. HEILIT + WOERNER Budowlana Sp. z o.o.with its registered office in Wroclaw – Agent of the consortium;
2. STRABAG Sp. z o.o. z with its registered office in Pruszków – Partner to the consortium;
3. Poldim S.A. with its registered office in Tarnów – Partner to the consortium;
4. Przedsiębiorstwo Inżynieryjne IMB – PODBESKIDZKIE Sp. z o.o. with its registered office in Skoczów – Partner to the consortium;
(hereinafter jointly referred to as: the „Contractor”)
concluded with the State Treasury - General Director of Roads and Highways (hereinafter referred to as: the "Customer") an agreement for the construction works consisting in: ”Continuation of the construction of the A-4 highway, section Brzesko - Wierzchoslawice from km 479,000 to km 499+800”.
(hereinafter referred to as: the ?Agreement”)
Value of the Agreement:
Total net value of the Agreement: PLN521 758 842,92 (in words: five hundred twenty one million seven hundred fifty eight thousand eight hundred forty two 92/100 zlotys);
Part of the net value of the Agreement, belonging to Poldim: PLN 150,000,000.00 (one hundred fifty million 00/100 zlotys);
Subject Matter of the Agreement:
Pursuant to the Agreement the Contractor shall perform the industry-related works, involving the continuation of construction of the A-4 highway, section Brzesko - Wierzchoslawice from km 479 000 to km 499+800.
Term of Performance of the Agreement:
Section 1 - 5 months from the works commencement date (including the winter time);
Section 2 - 7 months from the works commencement date (including the winter time);
Section 3 - 15 months from the works commencement date (including the winter time);
Term of Guarantee:
120 months from the date indicated in the takeover certificate.
Contractual penalties:
The Contractor shall pay the Customer the contractual penalties for delay in the following cases and in the following amounts:
1. For exceeding the deadline for completion of works for the sections 1 or 2 - in the amount of 0.02% of the total gross price for each day of delay;
2. For exceeding the deadline for completion of works for the section 3 - in the amount of 0.1% of the total gross price for each day of delay;
3. For withdrawal from the Agreement for reasons attributable to the Contractor – in the amount of 15% of the total gross price;
4. For exceeding the deadline for submitting or for submitting a schedule or an update of the schedule, which d not comply with the provisions of the Agreement - in the amount of PLN 5000 for each day of delay;
5. For exceeding the deadline for submitting or for submitting a schedule or an update of the schedule, which does not comply with the provisions of the Agreement - in the amount of PLN 5000 for each day of delay;
6. For exceeding the deadline for submitting or for submitting the detailed calculations of unit prices, which do not comply with the provisions of the Agreement - in the amount of PLN 5000 for each day of delay;
7. For exceeding the deadline for submitting or for submitting the draft agreement with the subcontractor or the agreement concluded with the subcontractor - in the amount of PLN 5000 for each day of delay;
8. For conducting the works without an approved quality assurance program for a given range of works – in the amount of PLN 5000 for each day of delay;
9. For failure to report any of the subcontractors or further subcontractors - in the amount of PLN 30,000, for each unreported subcontractor;
10. For starting the works without an approved plan of a temporary traffic organization or conducting of works contrary to the approved plan of temporary traffic organization, in the amount of PLN 10,000 for each day, until the submission of the approved plan or conducting the works in accordance with the approved plan of temporary traffic organization
11. For making changes in the road marking for the duration of the works, inconsistent with the approved plan of traffic organization, lack of road marking or performing the road marking with an improper care, in the amount of PLN 10,000 for each day of occurrence of the irregularities identified above;
12. For defaulting the removing of the defects and performing of minor outstanding works referred to in the hand over certificate or defaulting removing of the defects and performing minor outstanding works during the period of warranty for defects within the period specified by the Engineer or the Customer in the amount of PLN 5,000 for each day of delay
The Customer shall pay the Contractor a penalty for withdrawal from the Agreement for reasons attributable to the Employer – in the amount of 15% of the total gross price.
The Customer shall be entitled to additional compensation exceeding the amount of contractual penalties up to the amount of an actually suffered damage.
The contractual penalties may be deducted from the remuneration of the Contractor Payment of the penalties by the Contractor or deducting the amount of the penalty by the Customer from the payment due to the Contractor, in the cases referred to in paragraphs 1 and 3 - 8 above shall not relieve the Contractor from the obligation to complete the works or any other duties and obligations under the Agreement
Terms and conditions of the Agreement do not differ from those commonly used for this type of agreements.
The value of the abovementioned Agreement exceeds 10% of the equity capital of Traction - Tiltra S.A.
Legal basis:§ 5 paragraph 1 point 3 of the Regulation of the Minister of Finance dated 19 February 2009 on the current and periodic disclosures to be made by issuers of securities and conditions for recognition as equivalent of information whose disclosure is required under the laws of a non-member state.
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