35/2015 - 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. 30/2015, announces about mutual signing by Trakcja PRKiI S.A. in Warsaw, acting 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 “Awarding Entity”), 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.

In Current Report 30/2015 of 8 August 2015, the Company informed that the Awarding Entity would verify the request of the Consortium for extension of the time limit for completion of the work due to circumstances the Consortium is not liable for, according to the Agreement (i.e. due to the uncompleted procedure for selection of a contractor for strengthening the railway subgrade and the execution of these subgrade reinforcements). As a result of submission of the above mentioned request, the Consortium signed with the Awarding Entity the Amendment to extend the time limit for execution of work specified in the Agreement to 10 November 2015. The Awarding Entity assumes that until 10 November 2015 the date associated with the contract award preparation procedure and the time required to perform subgrade reinforcements will already be known. Thus it will be possible to determine the target date of extension of the final execution of work specified in the Agreement.

At the same time, the Amendment contains a provision on the Consortium's right to request extension of the time limit for the completion of work due to the occurrence of circumstances the Consortium is not liable for, according to the contract, as regards the period of delay in execution of the work for reasons related to the preparation of proceedings by the Awarding Entity to strengthen railway subgrade and time required to perform these reinforcements, beyond the date of 10 November 2015.

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.