34/2011 - Information about the conclusion of a material agreement
The Management Board of Trakcja Polska S.A. (?Company?) hereby announces that on 24 May 2011, a subsidiary of the Company - Przedsiębiorstwo Robót Kolejowych i Inżynieryjnych S.A., with its registered office in Wroclaw (?PRKiI?), acting as a Partner in the consortium composed of:
1. Przedsiębiorstwo Napraw Infrastruktury Sp. z o.o.with its registered office in Warsaw – Proxy of the consortium;
2. PKP Energetyka Spółka Akcyjna with its registered office in Warsaw – Partner to the consortium;
3. Przedsiębiorstwo Robót Kolejowych i Inżynieryjnych S.A. with its registered office in Wroclaw – Partner to the consortium;
4. Dolnośląskie Przedsiębiorstwo Napraw Infrastruktury Komunikacyjnej „DOLKOM” Sp. z o.o. with its registered office in Wroclaw – Partner to the consortium;
(hereinafter referred to as: the ?Contractor?)
concluded with PKP Polskie Linie Kolejowe S.A. with its registered office in Warsaw(hereinafter referred to as: the ?Purchaser?) an agreement for the basic linear construction works on the section Wroclaw – Grabiszyn – Skokowa and Żmigród – border of the Lower Silesian Voivodeship within the project POIiŚ (OPIE)7.1 - 4 Modernization of the railway line E 59, on the section Wroclaw - Poznan, Phase II - section Wroclaw - border of the Lower Silesian Voivodeship.?
(hereinafter referred to as: the ?Agreement?).
Value of the Agreement:
Total net value of the Agreement: PLN 657,332,542.19 (in words: six hundred fifty seven million three hundred thirty two thousand five hundred forty two and 19/100 zlotys);
Total gross value of the Agreement:PLN 808,519,026.89 (in words: eight hundred eight million five hundred nineteen thousand twenty six and 89/100 zlotys);
Part of the net Agreement value, that falls on PRKiI: PLN 220,72,.894.96 (two hundred twenty million seven hundred twenty thousand eight hundred ninety four and 96/100 zlotys);
Part of the gross Agreement value, that falls on PRKiI:PLN 271,486,700.80 (two hundred seventy one million four hundred eighty six thousand seven hundred and 80/100 zlotys).
Subject Matter of the Agreement:
Under the Agreement, the Contractor shall perform professional works related to the execution of the basic linear construction works on the section Wroclaw – Grabiszyn – Skokowa and Żmigród – border of the Lower Silesian Voivodeship within the project POIiŚ (OPIE)7.1 - 4 Modernization of the railway line E 59, on the section Wroclaw - Poznan, Phase II - section Wroclaw - border of the Lower Silesian Voivodeship.
Term of performance of the Agreement:
40 months from the date of commencement of works, but not longer than until 30.06.2014.
Contractual penalties:
The Contractor shall pay to the Customer contractual indemnity for any delays in the following cases and in the following amounts:
1. for delay in performance of the agreement - in the amount of 0.05% of the gross price for each day of delay;
2. the maximum amount of the contractual indemnity shall not exceed 10% of the total gross price.
Moreover the Contractor shall cover the costs of:
- train delays resulting from causes attributable to him, caused by the prolonged time limits for the scheduled tracks closures and unscheduled notification of the planned track closures that prevent arrangements with carriers on the timetable developed during the construction works, not agreed occupation of active track during the construction, repair or replacement of infrastructure damaged during the construction works, carrying out other speed than that indicated in the rules of the temporary speed limits during the construction and after its completion,
- introduction of the replacement bus services,
- use of locomotives to pull the trains.
The costs arising due to the train delays shall be calculated according to the notes or invoices submitted by the carriers and the cost of introduction of the replacement bus services and the use of locomotives to pull the trains, according to invoices submitted by the carriers.
The contractual penalties may be deducted from the remuneration of the Contractor.
Terms and conditions of the agreement are similar to those commonly used for these type of agreements.
The amount of the above mentioned part of the value of the Agreement attributable to PRKiI exceeds 10% of the equity of Trakcja Polska S.A.
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.
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