Execution of a subcontracting agreement with a subsidiary of the Issuer
Legal basis: Article. 17(1) of the Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC
Further to current report No 61/2017 of 29 June 2017, the Management Board of "Polimex-Mostostal" SA, with its registered office in Warsaw (the “Issuer”), announces that in view of the Employer’s consent (definitions as in the current report 61/2017) for subcontracting and to a draft agreement for a subcontractor of the Contract, the Issuer executed an agreement with its subsidiary - Polimex Energetyka sp. z o.o. (”PxME”PxME”) for delivery, construction works and services in connection with the Contract concluded by the Issuer.
For the performance of the agreement, the Issuer will pay PxME a lump-sum remuneration of PLN 277,465,738.04 net (say: two hundred seventy seven million four hundred sixty five thousand seven hundred thirty eight 04/100 PLN). The remuneration will be due and payable following the acceptance by the Employer of the Contractual Milestones set out in the Contract. PxME is bound by the corresponding obligations that rest on the Issuer under the Contract. The provisions of the subcontracting agreement are typical for such types of agreements.