52/2006: Material agreement concluded by Hydrobudowa, a subsidiary
he Board of Directors of PBG S.A. hereby informs that on 9th June 2006 PBG S.A. and a subsidiary Hydrobudowa Włocławek S.A. forming a consortium of Hydrobudowa Włocławek S.A. - PBG S.A. - Przedsiębiorstwo Budownictwa i Instalacji "ABT" Badora i Spółka Sp. Jawna - Przedsiębiorstwo Konserwacji Urz?dzeń Wodnych i Melioracyjnych "PEKUM" Sp. z o.o. concluded a material agreement with Elbl?g-based Przedsiębiorstwo Wodoci?gów i Kanalizacji w Elbl?gu Sp. z o.o. The leader of the consortium is Hydrobudowa Włocławek S.A.
The object of the agreement is to perform task "Water Treatment Plant (WTP) Królewicka and the extension of water-supply system in Elbl?g" by the Consortium. The task covers: Modernization and extension of "Królewiecka" Water Treatment Plant, protection against corrosion of Szopy -Elbl?g pipeline, cleaning water-supply network and changing network fittings in Elbl?g, extension of municipal water-supply network for newly-designed Modrzewina and Próchnik estates, construction of telemetric system of production and water-supply management in Elbl?g.
The Consortium contract provides for the following division of works during the project implementation:
- Hydrobudowa Włocławek S.A. - the leader of the Consortium: 52.72% of works,
- PBG S.A. - partner of the Consortium: 1.72% of Works,
- Przedsiębiorstwo Budownictwa i Instalacji "ABT" Badora i Spółka Sp. Jawna - partner of the Consortium: 32.95% of works,
- Przedsiębiorstwo Konserwacji Urz?dzeń Wodnych i Melioracyjnych "PEKUM" Sp. z o.o. - partner of the Consortium: 12.60% of works.
The order is financed with public resources, including resources of the Cohesion Fund. The works specified in this contract will be executed according to the contractual terms and conditions of installations, and designing and construction for electrical and mechanic appliances as well as construction and engineering works designed by the Contractor.
For the execution of works, the Consortium will be paid net remuneration of EUR 15,779,731.58 (i.e. PLN 62,361,499.20). 62.361.499
The works will be executed within 24 months from the date of beginning the works.
Contractual penalty is 0.05% of the approved contractual amount for each day of delay, however not more than 10% in total.
The said agreement is considered material based on the total shareholders'' equity criterion.
Legal basis:
§ 5.1.3 of the Regulation of 19th October 2005 on current and interim information provided by issuers of securities.
Signature of the authorised person:
Marcin Zboralski
Pliki:
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