Budimex.pl

Current report no 18 / 2019

Date: April 1, 2019 2:55 PM

Development of a complex of residential multi-family buildings with services, underground garage and technical infrastructure and development of building plot with internal roads, located by Grabiszyńska 163 St. (Wrocław) - conclusion of contract

The Management Board of Budimex SA informs that on 1 April 2019 a contract between Budmex SA and Budimex Nieruchomości Sp. z o.o. was concluded concerning development of a complex residential multi-family buildings with services, underground garage and technical infrastructure and development of building plot with internal roads, located on a part of a plot 13/17 AM-10, cadastral district Grabiszyn, Wrocław, Grabiszyńska 163 St.

 

Contract value: PLN 58,512,475.94 net

 

Since 1 March 2019 (the date of the last current report) it has been a second contract concluded between the Companies, and the contract of the highest value was concluded on 4 March 2019 for implementation of a complex of residential multifamily buildings with a service part on the ground floor and an underground garage, technical and communication infrastructure of the neighborhood ‘Wiślany Mokotów’, stage V.

 

Contract value: PLN 103,000,000.00 net

 

Works commencement date: 11 March 2019

 

Works completion date: 11 November 2020

 

Period of guarantee and warranty:

- reinforced concrete structure, roof (covering), insulation of the overhead and underground part – 10 years,

- other works – 66 months,

 

Advance payment: none

 

Terms of payment: 30 days from the day of delivery of a correct VAT invoice to the Ordering Party by the

Contractor

 

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

 

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

 

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

 

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

 

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

 

The parties reserve the right to claim supplemental damages on general terms and conditions if the stipulated 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 concluded between Budimex and its subsidiaries and Budimex Nieruchomości sp. z o.o. exceeds due to the value of the contract the threshold of PLN 147,743 thousand net.

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Shareholdership structure as on 30.06.2018

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