Conclusion of a significant agreement by the Issuer
Legal basis: Article 17(1) of the Market Abuse Regulation (MAR) – confidential information.
The Management Board of Polimex Mostostal S.A. with the registered office in Warsaw (the “Company”) informs that on 15 November 2019 the Company concluded an agreement (the "Agreement") with Inwat Sp. z o.o. with the registered office in Łódź (the "Contractor"). The subject of the Agreement is the development by the Contractor of multidisciplinary project documentation for the purposes of the "Construction of a Coal-Fired Power Unit in Puławy" (the "Contract") and the performance of the author supervision during the implementation of the Contract by the Company. The performance of the subject of the Agreement started on the day of its signature and the duration of the assignment is estimated at 40 months from the date of issuing by the Ordering Party, Grupa Azoty Zakłady Azotowe “Puławy” Sp. z o.o., of the contractual Request to Commence the Works, which took place on 23 October 2019.
The remuneration of the Contractor for the performance of the subject of the Agreement is flat-rate and has been set at PLN 42,566,536.00 net. The Contractor will be obliged to pay contractual penalties to the Company under the circumstances outlined in the Agreement, however, the total amount of the penalties will not exceed 25% of the net remuneration. The Company will be entitled to seek supplementary damages under general principles, if the aggregate amount of penalties does not cover the damage suffered by the Company.
Other provisions of the Agreement do not deviate from standard provisions contained in this type of contracts.