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 signed a contract today with MLP Pruszków II Sp. z o.o. (“Investor”), the detailed terms and conditions of which are set out below:
Subject of the contract: execution of the investment entitled “Warehouse building No. C4 in the axes, 6-11/N-H and a single-story social and office building for hall C4
Contract value: 3% of the revenues of the Pekabex Group according to the last published annual consolidated financial statements (in full percentages)
Works/delivery completion date: Obtaining the occupancy permit of the last part of the ongoing building hall C4 until 15.06.2021
Warranty period: 5 years, with 10 years for the construction of buildings and the tightness of the roof covering
Statutory warranty period: 5 years, with 10 years for the construction of buildings and the tightness of the roof covering
Performance bond: 5% of the net contract value
Retention bond: 5% of the net contract value
Limit of contractual penalties which may be imposed on the Company: 10% of the net contract value
The possibility of claiming supplemental compensation: yes
Other terms and conditions of the contract deviating from those typical for this contract type: none
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.