50/2006: Material agreement conclusion
The Board of Directors of PBG S.A. hereby informs that a material agreement was concluded on 25th May 2006 with a limited liability company Eko Power sp. z o.o.
The said contract covers performance of construction and design works by PBG S.A. as a General Contractor, related to a building project including nine residential and commercial buildings in the area of ?winouj?cie. PBG S.A. will be also responsible for developing as-built documentation of completed construction works and obtaining the permit for use of the building (occupancy permit) on behalf of the Investor.
Works are to be completed within 36 months from the date of hand-over of the construction site.
The fee of PBG S.A. for the performance of this contract is PLN 144,492,590.00 net of tax.
The following agreed penalties have been adopted:
- in the case of delays in the performance of the said works - 0.05% of the agreed fee for each day of the delay; if the delay is over 90 days, the Investor shall have the right to terminate the contract
- for termination of the contract by the Investor for reasons attributable to the Contractor - the Contractor shall pay the penalty equal to 10% of the agreed fee
- for termination of the contract by the Contractor for reasons attributable to the Investor - the Investor shall pay the penalty equal to 10% of the agreed fee
- the total amount of all agreed penalties provided for in the contract cannot exceed 10% of the agreed fee.
PBG S.A. shall provide a performance bond in the form of a bank guarantee representing 5% of agreed fee.
The said contract is considered material based on the total shareholders'' equity criterion.
Legal basis:
§ 5 section 1 item 3) of the Regulation of 19 October 2005 on current and interim information provided by issuers of securities
Signature of the authorised person:
Marcin Zboralski
Pliki:
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