115/2012: Execution of material contracts with EDF Polska Group companies
The Management Board of PBG S.A. in company voluntary arrangement (“Company”) reports that on December 6th 2012 the Company, acting as a member of a consortium comprising RAFAKO S.A. (Consortium Leader) and PBG(Contractor), both of which are PBG Group companies, executed contracts with EDF Polska CUW Sp. z o.o. acting for and on behalf of the following EDF Polska Group companies (Principal):
1. EDF Kraków S.A. of Kraków – a PLN 237,800,000 VAT-exclusive (PLN 292,494,000 VAT-inclusive)contract for the design, construction and commissioning of a wet lime-and-gypsum flue-gas desulphurisation unit at the EC Kraków CHP plant.
The contracted work will be completed by June 30th 2015.
2. EDF Wybrzeże S.A. of Gdańsk:
a) a PLN 186,000,000 VAT-exclusive (PLN 228,780,000 VAT-inclusive)contract for the design, construction and commissioning of a wet lime-and-gypsum flue-gas desulphurisation unit at the EC Gdańsk CHP plant.
The contracted work will be completed by June 30th 2015.
b) a PLN 147,100,000 VAT-exclusive (PLN 180,933,000 VAT-inclusive)contract for the design, construction and commissioning of a wet lime-and-gypsum flue-gas desulphurisation unit at the EC Gdynia CHP plant.
The contracted work will be completed by October 31st 2015.
3. Zespół Elektrociepłowni Wrocławskich KOGENERACJA S.A. of Wrocław – a PLN 199,000,000VAT-exclusive (PLN 244,770,000 VAT-inclusive)contract for the design, construction and commissioning of a wet lime-and-gypsum flue-gas desulphurisation unit at the EC Wrocław CHP plant.
The contracted work will be completed by October 31st 2015.
The aggregate amount of liquidated damages for any breach under the contracts does not exceed 25%of the VAT-exclusive contract price.
Without prejudice to other contractual provisions, the Principal may demand that damage caused by the Contractor be remedied, however the Contractor’s aggregate liability for the Principal's claims for damages arising upon breach of contract or otherwise in connection with the contracts, including liquidated damages, may not exceed 115%of the VAT-exclusive contract price.
The parties have also agreed upon all essential terms necessary to commence the contracted work.
The total value of the contracts is PLN 769,900,000 VAT-exclusive (PLN 946,977,000 VAT-inclusive).
The contracts are considered material as they meet the equity-based criterion.
Legal basis:
Par. 5.1.3 of the Minister of Finance’s Regulation on current and periodic information to be published by issuers of securities and conditions for recognition as equivalent of information whose disclosure is required under the laws of a non-member state, dated February 19th 2009.
Pliki:
Full version of report (.pdf - 33,32 kB)