77/2011 - Information about the conclusion of a material agreement
The Management Board of Trakcja - Tiltra S.A. (hereinafter: the “Company”) hereby announces that on 2 December 2011 the Company and its subsidiary, AB Kauno tiltai with its registered office in Kaunas, Lithuania (hereinafter: “Kauno”), as the leader of a consortium composed of:
AB Kauno tiltai – leader of the consortium;
Akcine bendrove “PANEV?ŽIO KELIAI” – Partner to the consortium;
Uždaroji akcine bendrove “Mitnija”– Partner to the consortium;
Ribotos atsakomybes bendrove “BELAM-RIGA” – Partner to the consortium;
Trakcja-Tiltra Spółka Akcyjna – Partner to the consortium;
(hereinafter jointly referred to as: the „Contractor”)
concluded a material agreement (hereinafter: the “Agreement”) with AB “Lietuvos geležinkeliai” with its registered office in Vilnius, Lithuania (hereinafter: the “Ordering Party”).
Value of the Agreement:
The total net value of the Agreement, after its conversion into PLN, amounts to: PLN 277,557,268.60.
Value of the Agreement attributable to Kauno: 64%
Value of the Agreement attributable to the Company: 1%
Subject Matter of the Agreement:
On the basis of the Agreement, the Contractor shall perform construction works related to the construction of the second road of the Kyviskes-Valciunai section of the Vilnius bypass, IXB transport corridor.
Term of Performance of the Agreement:
The construction works indicated above shall be completed within 1030 (one thousand and thirty) days from the commencement date.
Contractual Indemnity:
- The amount of indemnity for delay in execution of the works shall be 0.1% of the gross value of the agreement for each day of delay, until the level of 10% of the gross value of the agreement is reached.
- Upon reaching the level of 10% of the gross value of the agreement, indemnity for delay in execution of the works shall be 0.2% of the gross value of the agreement for each day of delay, until the level of 20% of the gross value of the agreement is reached.
- The maximum amount of indemnity for delay shall be 20% of the gross value of the agreement.
Other terms and conditions of the agreement are similar to those commonly used for these type of agreements.
An agreement is deemed to be a material agreement if its value exceeds 10% of the equity of Trakcja - 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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