The Management Board of Poznańska Korporacja Budowlana Pekabex S.A. (“the Issuer”) informs that the Issuer’s subsidiary – Pekabex BET S.A. (“the Company”) received information today about the conclusion of an agreement (“the Contract”) with CTP Invest Poland Sp. z o.o. (“the Investor”), the detailed terms and conditions of which are set out below:
Subject of the Contract: complex construction of „turn-key” warehouse buildings with an acceptable function of non-burdensome production with social and office premises on the ground floor, technical premises, a guardhouse building, as well as technical infrastructure and land development in Iłowa.
The Contract value: 25 % of the revenues of the Pekabex Group according to the last published annual consolidated financial statements (in full percentages)
Works completion date: 31.07.2023
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: Contract provides for a varied Statutory warranty period due to the scope of works, the longest period is 10 years
Performance bond: 10% 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 Contract value
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.