Current report no 59 / 2012

Current report no 59 / 2012 - 17 September 2012 / 00:00

Construction of Nowa Wałowa Street in Gdańsk – a new contract for Budimex SA – disclosure of delayed information

The Management Board of Budimex S.A. releases to the public delayed information pursuant to the applicable provisions of law, i.e. article 57 of the Act on Public Offering and Conditions Governing the Introduction of Financial Instruments to Organised Trading and Public Companies. The Management Board of Budimex S.A. informed the Polish Financial Supervision Authority about the delay in this information on 6 August 2012 in Current Report No. 2/2012 addressed to the secret office.
On 17 September 2012 the Management Board of Budimex S.A. was informed about the entry into force on 15 September 2012 of a contract concluded on 31 July 2012 by and between Budimex S.A and BPTO Infra Sp. z o.o. with its registered office in Gdańsk for the construction of Nowa Wałowa Street in Gdańsk.

  • The contract is worth PLN 58,500,000.00 net.
  • Commencement date: 14 days after the Contracting Authority is informed about the contract becoming effective
  • Deadline: 15 March 2014
  • Guarantee period: 48 months
  • Financial terms and conditions:
    • Advance payment: 3.5% of the gross contractual price
    • Payment: 28 days from the date of delivering the invoice to the Contracting Authority
    • Bank guarantee of successful execution: 15% of the gross contractual price
  • Penalties paid by the Contractor:
    • Maximum penalty amount: 10% of the gross contractual price
  • The Contracting Authority reserves the right to supplementary compensation which carries the amount of contractual penalties to the amount of damage actually suffered in relation to any infrastructure owned by PKP, PKP PLK, SKM.

The contract value exceeds 10% of the equity of Budimex S.A.