Aktuální report č. 23 / 2014

Construction of the ARTE NOVA residential complex at ul. Jana Kazimierza in Warsaw - a new contract for Budimex SA

The Management Board of Budimex S.A. announces that on 6 March 2014 the Company concluded two contracts with Bouygues Immobilier Polska Sp. z o.o. with its registered office in Warsaw for the construction of the ARTE NOVA residential complex, stage B1 + B3 ("Contract 1") and stage B2 ("Contract 2"), at ul. Jana Kazimierza in Warsaw. At the same time, the Management Board announces that these are not the only contracts entered into with the same party in the last 12 months. On 6 December 2013 the Company concluded a contract worth PLN 19,600,000 net.

• Value of Contract 1: PLN 33,700,000 net
• Value of Contract 2: PLN 21,780,000 net
• Details concerning the contract with the highest value (Contract 1):
• Commencement date: until 8 March 2014
• Deadline: until 7 March 2015
• Guarantee period: 60 months
• Financial terms and conditions:
  • Terms of payment: 30 days from the delivery of the invoice to the Contracting Authority
  • Performance bond: 5% of the net remuneration
  • Maximum contractual penalties: 10% of the net remuneration
• The parties are entitled to claim supplementary compensation exceeding the value of the contractual penalties.

The total value of the contracts concluded exceeds 10% of the equity of Budimex S.A.