17/2006: Material agreement coclusion
The Board of Directors of PBG S.A. hereby informs to have been informed about the conclusion of a material agreement for the estimated total value of PLN 102,561,058.84 gross, following another transaction with MAXER S.A. in bankruptcy.
Pursuant to the agreement for the highest value concluded on 6th February 2006, PBG S.A. shall, as the General Subcontractor, complete all of the remaining works, together with additional works and others for the following project: "The construction of Malczyce water step on the Odra river" with MAXER S.A. in bankruptcy as the Contractor for the Contracting Party, i.e. Regionalny Zarz?d Gospodarki Wodnej we Wrocławiu (Regional Water Management Authority in Wrocław). Under the agreement PBG S.A. shall complete the task by 30th December 2009.
For the completion of the object of the agreement, PBG S.A. shall receive remuneration in the amount of the difference between the total value of the contract between MAXER S.A. as the Contractor and the Contracting Party for the amount of PLN 230,479,589.84 gross and the total value of works invoiced by the Contractor by 31st December 2005 (i.e. PLN 119,835,526) and the value of the works in progress estimated at about PLN 8,500,000 gross. As a result, the value of the remuneration was estimated at the level of PLN 102,144,058.84 gross.
Additionally, the remuneration for PBG S.A. will be less the remuneration for Maxer S.A. as the General Contractor in the amount of 3%.
The agreement provides for no agreed penalties.
Legal basis:
Art 5 item 1 point 3 of RO
Signature of the authorised person:
Magdalena Eckert
Pliki:
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