34/2019 – Information on the conclusion of the contract by the subsidiary AB Kauno tiltai

The Management Board of Trakcja PRKiI S.A. (‘Company’, ‘Issuer’) informs that today he has received information about the signing of the contract by a subsidiary of the Issuer – AB Kauno tiltai (based in Lithuania) with the Lithuanian Road Administration under the Ministry of Transport (‘Ordering Party’) performance of construction works: ‘Reconstruction of the trunk road of national importance A1 of Vilnius – Kaunas – Klaipeda section from 99.29 to 100.47 km’ (‘Agreement’).

The total net value of the Agreement is EUR 26 727 512.06 (PLN 115 446 815.59). The works subject to the Agreement must be completed within 17 months of its entry into force. This period does not include the suspension period, which will start on December 15, 2019 and end on March 15, 2020. 

The contract enters into force upon its signing, submission of a bank guarantee and insurance by AB Kauno tiltai and submission of a building permit document by the Employer.

The other terms of the Agreement do not differ from those commonly used for this type of agreement.

The Issuer’s Management Board decided to publish this information because the value of the Agreement constitutes a significant share in the portfolio of orders carried out by the subsidiary AB Kauno tiltai and has an impact on maintaining current and increasing future revenues and results of AB Kauno tiltai. 

Legal basis:

Art. 17 MAR