Current report no 2 / 2011

Current report no 2 / 2011 - 10 January 2011 / 00:00

Reception of a claim regarding the payment of contractual penalty

The Management Board of Budimex SA would like to notify you that it has received information concerning Tomasz Ryskalok and Rafał Ryskalok, pursuing a business activity as a civil law partnership under the name Cerrys S.C., residing in Wykroty, filing a lawsuit, on 16th December 2010, against Budimex SA with regard to the payment of a contractual penalty for delay in the removal of defects identified within the effective period of the guarantee. The lawsuit concerns the construction of a concrete plant in line with agreement concluded on 19.05.2003 (with the value of the agreement amounting to PLN 4,189,246.43).
The value of the subject matter of the lawsuit is PLN 90 million including contractual interest calculated from 19th October 2006 until the day of payment.
In the opinion of Budimex SA, the claim constituting the subject matter of the argument is groundless and there is no basis, either formal or factual, for considering it (the deadline for submitting the claims in question expired, the limit concerning contractual penalties – i.e. up to 15% of the value of the agreement – has not been taken into account, and the defect is not material).
Taking the above considerations into account, this current report is submitted to you only for purposes of ensuring consistence with formal requirements indicated in paragraph 5, section 1, point 8 of the resolution of Minister of Finances of 19th February 2009 with regard to current information (…) i.e. due to the fact that the value of the subject matter of the argument indicated by the complainant exceeds 10% of Budimex SA equity.