Current Reports

49/2015 - Information on conclusion of material agreements

The Management Board of Trakcja PRKiI S.A. ("the Company", "the Contractor"), hereby announces that the Company concluded material agreements of total value of PLN 70,115,111.14 (seventy million, one hundred and fifteen thousand, one hundred and eleven PLN, 14/100) with PKP Polskie Linie Kolejowe S.A. based in Warsaw ("PKP") within the period from 05.10.2015, i.e. from the publication date of the Current Report No. 42/2015, until today.

 

Agreement of the highest value

The highest value agreement of these above mentioned is the agreement mutually signed today, i.e. on 17 November 2015, regarding "Designing and construction of communications and IT systems at the Łódź Fabryczna station and the access tunnel and station, together with third party systems integration" ("the Agreement").

 

Value of the Agreement

Net value of the Agreement is PLN 34,880,000.00 (thirty-four million, eight hundred and eighty thousand zloty).

Gross value of the Agreement is PLN 42,902,400.00 (forty-two million, nine hundred and two thousand, four hundred zloty).

 

Work completion date

Pursuant to the Agreement, the Company shall complete the work until 15 July 2016.

 

Contractual Penalties

The Agreement comprises provisions on contractual penalties to be paid by the Contractor that may exceed at least 10% of the value of the Agreement. 

                                                                                                                     

For the withdrawal from the Agreement for reasons attributable to the Contractor, the Contractor shall pay a penalty of 30% of the value of the Agreement.

 

The total sum of contractual penalties charged to be paid by the Contractor shall not exceed 30 percent of contract value.

 

Payment of the contractual penalty does not waive the PKP's right to claim, under general rules of law, damages in excess of the contractual penalty stipulated.

 

Terms of the Agreement

Terms of the Agreement do not differ from contractual terms that are usually used for this type of agreement.

 

Criterion for considering the Agreement a material agreement

The criterion for deeming the Agreement a material agreement was the fact that the value of the Agreement concluded by the Company with PKP in the period commencing from 05.10.2015 exceeded 10% of Company's equity capital.

 

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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