30/2015 - Information on conclusion of an amendment to a material agreement

The Management Board of Trakcja PRKiI S.A. (the "Company", "Issuer"), in reference to Current Report No. 44/2010, hereby announces about mutual signing by Trakcja PRKiI S.A. in Warsaw, as a representative of the Consortium composed as follows:

1.      Trakcja PRKiI S.A. based in Warsaw,

2.      Przedsiębiorstwo Napraw i Utrzymania Infrastruktury Kolejowej w Krakowie Sp. z o.o. based in Krakow,

("the Consortium")

 

with

 

PKP Polskie Linie Kolejowe S.A. based in Warsaw (the "Client"), of the Amendment (the "Amendment") to the material agreement for designing and execution of construction work on the railway line Kraków – Medyka – national border at the section Dębica – Sędziszów Małopolski, km 111,500 – 133,600, as part of the Project "Upgrade of the Railway Line E 30/C-E 30, section Kraków – Rzeszów, stage III"; Tender procedure 2.2 (the "Agreement”), concluded on 16 December 2010.

 

Detailed information on the Agreement, including information on its value, was provided by the Company in the current reports: 44/2010 dated 16.12.2010 and 44/2010 K dated 17.12.2010.

 

The period for performing the work was defined in the agreement as 36 months from the date of commencement of work, but no later than until 30.09.2013. Then the Parties, under the amendment announced by the Company in Current Report 39/2014, modified the date of completion of the work and agreed that the work would be completed until 8 July 2015.

 

According to the Amendment referred to herein, the Parties agreed that the date of completion of the work would be extended by 37 days, namely until 14 August 2015. In addition, the Consortium requested the Client to extend the time limit for completion of the work by 547 days due to circumstances that are beyond Consortium's liability under the Agreement (the "Request"). The Client will verify the Request no later than until 14 August 2015. Where the Request is accepted by the Client and another amendment extending the period for completion of the work is entered into, the period of 37 days specified herein will be calculated towards the future extension of the work completion date.

 

The Company will provide information on conclusion of subsequent amendments to the Agreement in respective reports.

 

Other provisions of the Agreement remain unaffected.

 

The criterion to deem the Agreement a material agreement was the fact that its value exceeds 10% of Company's equity.

 

 

 

 

Legal basis:

Section 5 paragraph 1 subparagraph 3 of the Regulation of the Minister of Finance of 19 February 2009 on current and periodic information published by issuers of securities and conditions for recognizing information required by laws of non-member states as equivalent.

 

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