36/2006: Material agreement conclusion
The Management Board of PBG S.A. hereby informs that a material agreement with Zakład Inwestycji Organizacji Traktatu Północnoatlantyckiego was signed on 25 April 2006.
Pursuant to this agreement, PBG S.A. (as the Contractor) will upgrade and expand the fuel depot in Gardea. Among other tasks, PBG shall: develop a works organisation schedule and a building site management project, prepare a detailed working documentation, provide ongoing land surveying services, prepare as-built documentation, develop the start-up project, perform the assembly works, commission the facility, obtain the required permits and acceptances, deliver a training on management of the facility.
The task delivery period is set for 24 months from the date of approval of the detailed working design.
The remuneration payable to PBG S.A. for the delivery of the entire agreement shall be the flat amount of 22,972,295.07 (net).
Contractual penalties shall apply as follows:
- delays in the delivery of the agreement - 0.20% of the entire remuneration amount, accrued for each day of delay, but up to 10% of the gross remuneration;
- delays in removing defects - 0.20% of the entire remuneration amount, accrued for each day of delay,
- termination of the agreement by the Contractor - 10% of the gross remuneration amount,
- termination of the agreement by the Principal - 10% of the gross remuneration amount.
PBG S.A. shall provide the due collateral - 5% of the gross value of the agreement (i.e. PLN 1.401.310 in the form of an insurance guarantee.
The said agreement is considered material based on the total shareholders'' equity criterion.
Legal basis:
Article 5 par.1 point 3 of the Regulation of 19th October 2005 on current and interim information provided by issuers of securities.
Signature of the authorised person:
Magdalena Eckert-Boruta
Pliki:
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