Budimex.pl

Current report no 12 / 2019

Date: March 1, 2019 9:45 AM

Construction of residential buildings in multi-family dwelling units, at ul. Jana Pawła II in Gdańsk – signature of a contract

The Management Board of Budimex SA announces that on 1 March 2019 a contract was concluded between Budimex SA and Budimex Nieruchomości Sp. z o. o. (a wholly owned subsidiary of Budimex SA) for the “Construction of residential buildings in multi-family dwelling units, at ul. Jana Pawła II in Gdańsk”, covering residential multi-family buildings with a retail part on the ground floor, underground car park, land development and connected technical infrastructure”.

This has been the second contract concluded between the Companies since 28 February 2019 (date of the last current report), and the total value of both orders amounted to PLN 144,407,500 net. The highest value order is the aforementioned contract, concluded under the following terms and conditions:

 

Contract value: PLN 83,927,500.00

 

Works commencement date: 1 March 2019

 

Works completion date: 1 March 2021

 

Guarantee period: 72 months

 

Statutory warranty period: 66 months

 

Advance payment: none

 

Payment terms: 30 days from the day of delivery of a correct VAT invoice to the Ordering Party by the Contractor

 

Bank performance bond: Guarantee deposit 5% of the net works value

 

Maximum amount of contractual penalty paid by the Contractor: 10% of the net contracted remuneration

 

Maximum amount of contractual penalty paid by the Ordering Party: 10% of the net contracted remuneration

 

Contractual penalties payable by the Contractor do not deviate from market standards.

 

Penalties payable by the Ordering Party do not deviate from market standards. 

 

The parties reserve the right to claim supplemental damages on general terms and conditions if the stipulated contractual penalty does not cover the amount of loss incurred.

 

Other terms and conditions of the contract do not differ from the market standards.

 

The total value of contracts signed between Budimex SA and its subsidiaries and Budimex Nieruchomości Sp. z o. o after 28 February 2019, including the contract value referred to in this report, exceeds the threshold of PLN 127,386 thousand net.

 

 

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Shareholdership structure as on 17.05.2019

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