Conclusion of a significant agreement by the Issuer
Legal basis: Article 17(1) of the Market Abuse Regulation (MAR) – confidential information.
With reference to the current report No 6/2020 of 30 January 2020, the Management Board of Polimex Mostostal S.A. with the registered office in Warsaw (the “Issuer”, the “Company”) informs that the Company concluded an agreement with Engineering, Procurement and Construction Office “Energoprojekt-Katowice” S.A. with the registered office in Katowice (the "Contractor"). The subject of the agreement is the development by the Contractor of multidisciplinary project documentation and the provision of engineering services for the purpose of the following contract: "Construction of two gas and steam power units for PGE GiEK S.A. at the Dolna Odra Power Plant Complex" (the "Contract"), along with the necessary connectors and demolitions, as well as performance of the function of the general designer and author supervisor during the implementation of the Contract by the Company. The period of the execution of the subject of the Agreement begins on the day of its signature and ends on 11 December 2023.
The remuneration for the performance of the subject of the Agreement by the Contractor consists of a flat rate component in the amount of PLN 40,843,355.00 net and an estimated price which at the date of the conclusion of the Agreement was estimated at PLN 62,000.00. The Contractor will be obliged to pay contractual penalties to the Company under the circumstances outlined in the Agreement, however, the total amount of contractual penalties for all titles will not exceed 20% of the flat rate net remuneration. The total combined liability of the parties to the Agreement will not exceed 100% of the flat rate net remuneration. The parties excluded the liability for lost profits. There is a contractual entitlement applicable to all parties to withdraw from the Agreement under specified conditions.