49/2012 – Information on withdrawal from a significant contract

The Management Board of Trakcja – Tiltra S.A. (“Company”) informs that on September 12, 2012, the Company withdrew from the significant agreement concluded by the Company on September 22, 2011 with Przedsiębiorstwo Napraw Infrastruktury Sp. z o. o. based in Warsaw (“Partner”, “PNI”) [“Agreement”]. The agreement was concluded in connection with the agreement about which the Company informed in current report No. 35/2011, concluded on May 27, 2011, between PKP Polskie Linie Kolejowe S.A. and a consortium of companies including: the Company as the consortium’s Representative and PNI as one of the consortium’s Partners, for the performance of construction works on the modernization of line No. 9 on the section from km 236.920 to km 287.700 covered by the area of ​​the Local Control Center based in Malbork as part of the Project : No. POIiŚ 7.1-1.3 “Modernization of the E 65/CE 65 railway line on the section Warsaw – Gdynia – LCS Iława, LCS Malbork area.”

Subject of the Agreement

Pursuant to the Agreement, the Partner agreed to perform construction works in connection with the modernization of line No. 9 on the section from km 236.920 to km 287.700 covered by the area of ​​the Local Control Center based in Malbork as part of the Project: No. POIiŚ 7.1-1.3, in accordance with the scope of works indicated in the bill of quantities – “bill of quantities no. 1 – track and drainage works”: facility: B2 – Prabuty – Mleczewo: chapter no. 1.1.: demolition of the track surface, group 1, item 1.1.1.1, item 1.1.1.3., item 1.1.1.4; pos. 1.1.1.5; chapter no. 1.3.: Construction of the track surface, group 2, item 1.3.2.1.; pos. 1.3.2.2; pos. 1.3.2.3; item 1.3.2.4; facility: B3- Mleczewo-Malbork: chapter no. 1.1.: Demolition of the track surface, group 1, item 1.1.1.1; pos. 1.1.1.3; chapter no. 1.3.: Construction of the track surface, group 2, item 1.3.2.1: pos. 1.3.2.2; pos. 1.3.2.3; 1.3.2.4; facility: A3- Malbork Station: excluding item 1.3.2.23 (compensating devices).

Reasons for withdrawal from the Agreement

The reason for the Company’s withdrawal from the Agreement is the Partner’s failure to perform the works provided for therein in accordance with the Agreement and the ineffective expiry of the deadline set for the Partner by the Company for the Partner to commence the performance of the indicated works. Withdrawal from the Agreement was made pursuant to Art. 491 of the Civil Code.

Description of the expected financial consequences resulting from withdrawal from the Agreement:

Withdrawal from the Agreement will result in the need for the consortium members to take over the implementation of the works to the extent that they have not been performed by the Partner. Withdrawal from the Agreement in question will not significantly affect the financial results of the Company and other related entities of the Company.

The value of the above-mentioned Agreement exceeds 10% of the equity of Trakcja – Tiltra S.A. at the time of withdrawal.

Legal basis: § 5 section 1 point 5 of the Regulation of the Minister of Finance of February 19, 2009 on current and periodic information submitted by issuers of securities and the conditions for recognizing as equivalent information required by the laws of a non-member state.