2/09/2013 20:47

70/2013 – Information about the conclusion of a material contract

The Management Boardof Trakcja S.A. (hereinafter: “Company” or “Contractor”) hereby informs that within the last 12 months the Company concluded with PKP Energetyka S.A. (hereinafter: “Customer”) contracts of a total value of PLN 50,700,420 net (in words: fifty million seven hundred thousand four hundred and twenty zlotys). The highest value contract is the contract concluded on 19 March 2013 between the Company and the Customer (hereinafter: “Contract”) in relation to the framework agreement for supply of 3kV DC switchgears concluded on 13 February 2013 between these entities (hereinafter: “Framework Agreement”).

Value of the Contract:

Net value of the contract: PLN 33,351,000.00 (in words: thirty-three million three hundred fifty-one thousand zlotys).

Object of the Contract:

The object of the Contract is supply of 3kV DC switchgears by the Contractor to the Customer in accordance with the terms of the Contract.

Term of the Contract:

The Contract shall remain in force by 30 June 2016.

Contractual Indemnity:

According to the terms of the Framework Agreement:

1. The Contractor shall pay the Customer contractual penalties in the following cases and at the following amounts:

a)       10% of the value of the object of the Contract, if the Customer withdraws from the Contract for reasons attributable to the Contractor;

b)       0.5% of the value of the object of the Contract for each started day of delay in the supply of the object of the Contract as compared to the deadline specified in the Contract or in a one-off order;

c)       0.5% of the value of the object of the Contract for each day of delay in a situation of delaying the removal of defects communicated by the Recipient or the Customer within the guarantee and/or implied warranty period;

2. The Customer shall pay the Contractor a penalty of 10% of the value of the Contract in an event of the Contractor’s withdrawal from performing the Contract for reasons attributable to the Customer.

3. The parties reserve their right to seek compensation in excess of the stipulated contractual penalties, according to general rules outlined in the Civil Code. 

The terms and conditions of the Contract do not differ from those commonly used for this type of agreements.

The basis for the publication of this report is the fact that the total value of the contracts concluded between the Company and PKP Energetyka S.A. exceeds 10% of the Company’s equity.

Legal basis: § 5, paragraph 1, point 3 of 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.