56/2011 - Information about the conclusion of a material agreement
The Management Board of Trakcja - Tiltra S.A. (hereinafter referred to as: the “Company”) hereby announces that on 27 July 2011, it got aware of the fact of the conclusion by the subsidiary of the Company - AB Kauno tiltai with its registered office in Kaunas, Lithuania (hereinafter referred to as: “Kauno” or the “Contractor”): acting as a leader of the consortium composed of:
AB Kauno tiltai – Leader of the consortium;
Uždaroji akcin? bendrov? “Fegda“ – Partner to the consortium;
Uždaroji akcin? bendrov? “ALVORA“ – Partner to the consortium;
of a material agreement (hereinafter referred to as:the “Agreement”) with the City ??Council of Vilnius, with its registered office in Vilnius (hereinafter referred to as: the “Customer”).
Value of the Agreement:
Total net value of the Agreement, after its conversion into PLN, amounted to: PLN 162,044,451.64.
Value of the Agreement attributable to Kauno: 51 %
Subject Matter of the Agreement:
Under the Agreement the consortium was commissioned professional construction works related to construction of Trans-European Network Junction – 2nd stage of the western bypass of Vilnius:
Term of performance of the Agreement:
The above indicated construction works must be completed within 33 (thirty three) months from the commencement date.
Contractual Indemnity:
1. The amount of indemnity for delay in execution of the works – shall amount of 0.02% of net agreement value for each day of delay.
2. The maximum amount of the indemnity for delay – shall amount to 20% of net value of the agreement.
Other terms and conditions of the agreement are similar to those commonly used for these type of agreements.
Criterion for the recognition of agreements to be material is the fact that their total value exceeded 10% of the equity of Trakcja - Tiltra S.A.
Legal basis: § 5 paragraph 1 point 3of 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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