The Management Board of Poznańska Korporacja Budowlana Pekabex S.A. (“the Issuer”) informs that the Issuer’s subsidiary – Pekabex Bet S.A. (“the Company”) has concluded a contract today with PDC Industrial Center 163 Sp. z o.o (“Employer”), the detailed terms and conditions of which are set out below:
Subject of the contract: Constructing a production and warehouse center with social and office segments, a gatehouse, a water tank for firefighting purposes with a pumping station, squares, parking lots and the necessary elements of technical infrastructure in Bielsko-Biała (“Investment “)
Contract value: 16 % of the revenues of the Pekabex Group according to the last published annual consolidated financial statements (in full percentages).
In addition, the letter gives the contracting authority the option to order optional works included in the Investment, the total value of which amounts to 4% of the Pekabex Group’s revenues according to the last published annual consolidated financial statements (in full percent). The total amount of the basic remuneration and remuneration for the exercise of all options is 19% of the Pekabex group’s revenues according to the last published annual consolidated financial statements (in full percent)
Works completion date: 7 months from the date of handing in the final and legally valid building permit for building BU03, not earlier than 31.08.2021
Warranty period: the Contract provides for a varied warranty period due to the scope of works, the longest period is 10 years
Statutory warranty period: the Contract provides for a varied statutory period due to the scope of works, the longest period is 10 years
Performance bond: 5 % of the contract value net Retention bond: 5 % of the contract value net
Limit of contractual penalties which may be imposed on the contractor: 10% of the contract value net
The possibility of claiming supplemental compensation: yes
Other terms and conditions of the contract deviating from those typical for this contract type: no
The reason for deeming the Information material: The contract value exceeds 5% of the value of the Issuer’s consolidated equity according to the last published annual consolidated financial statements.