93/2013 - Conclusion of the material agreement
The Management Board of Trakcja S.A. ("Company") hereby informs that Przedsiębiorstwo Robót Kolejowych i Inżynieryjnych S.A. ("PRKiI", "Subsidiary"), the Subsidiary of Trakcja S.A., on 6 November 2013 signed the Agreement, based on which it acquired the rights and obligations of Przedsiębiorstwo Napraw Infrastruktury spółka z o.o., in arrangement bankruptcy, as resulting from the agreement no. PNI – T4 – 35/2011 – ENERGETYKA of 31 August 2011 ("Agreement"), to which PKP Energetyka S.A. was a party.
In the agreement no. PNI – T4 – 35/2011 – ENERGETYKA of 31 August 2011, Przedsiębiorstwo Napraw Infrastruktury spółka z o.o. currently in arrangement bankruptcy, acting as the consortium leader was referred to as the Representative and PKP Energetyka S.A. was referred to as the Partner, jointly referred to as the Parties.
Value of the Agreement:
The original total net value of the Agreement was PLN 84,903,164.57 (say: eighty-four million nine hundred three thousand one hundred sixty-four Polish zlotys 57/100). As on the date of signing the Agreement, based on which the Subsidiary acquired the rights and obligations of Przedsiębiorstwo Napraw Infrastruktury sp. z o.o. , in arrangement bankruptcy, the total net value of the Agreement is PLN 51,983,818.60 (say: fifty-one million nine hundred eighty-three thousand eight hundred eighteen Polish zlotys 60/100).
Object of the Agreement:
The Agreement refers to the construction works of basic railway lines in the section Wrocław - Grabiszyn – Skokowa and Żmigród – border of Dolnośląskie voivodeship under POLiŚ 7.1 project. – 4 "Modernisation of E59 railway line in the section Wrocław – Poznań, Stage II – section Wrocław – border of Dolnośląskie voivodeship".
Completion date:
The completion date of the works by 30 June 2014.
Liquidated Damages:
The Parties to theAgreement decidedthatthepaymentof allliquidateddamagesshall be entirely the responsibility ofthis Party to the Agreement,whoseactionoromission(as resultingfrom the allocation of workassumed)shall be relatedto thecalculation of theliquidateddamages.
In the event whenthe calculation of the liquidated damages takes place due to reasons on the side ofthe Representative and Partner to the Agreement,the Partiesshall beobliged to participatein theliquidateddamagein theproportionas resultingfrom theratio of value ofworksperformedbyoneofthemto thevalue of thecontractual amount. Uponpaymentof the liquidateddamages,the partiesare entitledto legalrecoursein internalrelationshipsasdefinedon the basis ofguiltof each of theParties to the Agreement.
If undueorlateperformanceof some part of theworksentrusted with the Party to the Agreementcausesdamage to the other Party to theAgreement(inparticularas resultingfrom the obligationto payliquidateddamagesor lost profits),the Partythat caused thedamageshall beresponsiblethereforon generalterms.
The Partiesto the Agreement may seek compensation exceeding the liquidated damages on general terms in the event whenthe damageincurred byone of thePartiesto the Agreement exceedstheamountof the damagesas claimedfor the benefitof such Party.
Other terms and conditions of the Agreement:
Other terms and conditions of the Agreement do not differ from commonly applied terms and conditions in case of similar types of agreements.
The basis for publication of this report shall be the fact that the total value of the agreements executed by the Company and its subsidiaries with PKP Energetyka S.A. exceeds 10% of the Company's equities.
Legal basis: § 5 sec. 1 point 3 of the 19 February 2009 Resolution of the Minister of Finance regarding current and periodic information published by issuers of securities and conditions for recognising as equivalent information required by the laws of a non-member state.
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