Current Reports

21/2017 - Information on concluding an agreement by the subsidiary AB Kauno tiltai

The Management Board of the company Trakcja PRKiI S.A. (“the Company”, “the Issuer”) informs that today it was notified of signing an agreement by the Issuer’s subsidiary – AB Kauno tiltai (with its registered office in Lithuania) with the Lithuanian Road Administration at the Ministry of Transport on “the development of the road E67 (VIA BALTIVA) of the trans-European road network. Development of the Kaunas - Marijampolė section. Stage 1. Reconstruction of the road section A5 Kaunas - Marijampolė - Suwałki from 23.40 to 35.40 km” (hereinafter referred to as the “Agreement”). The Agreement has been concluded under a consortium and the Agreement’s net value amounts to EUR 30,503,447 (PLN 128,087,024.30). The subsidiary AB Kauno tiltai has not yet concluded an executory agreement with other consortium members, therefore, its final share in the Agreement’s value is not known. The Company shall inform in a separate report on the AB Kauno tiltai’s share in the Agreement’s value.

The works are to be executed within 8 months as of the Agreement’s entering into force (not including the period between 15 December and 15 March).

 

The Management Board of the Issuer decided to publish this information, since the Issuer’s subsidiary’s share in the Agreement’s value constitute an important share in the portfolio of contracts executed by the subsidiary AB Kauno tiltai in the road market and has an impact on maintaining current and increasing future revenues and results of the Issuer.

 

Legal grounds:

Article 17 of MAR

Back to list