Aktueller Bericht Nr. 12 / 2012

Construction of the "Neptun" Office Centre in Gdańsk - a new contract for Budimex SA

The Management Board of Budimex SA announces that on 8 March 2012 a contract was signed with the Krakow Development I Sp. z o.o. on the construction of an office building "Neptun Office Centre in Gdańsk".

• The contract is worth EUR 18,688,643.80 net (PLN 77,100,000 net)
• Commencement date: immediately upon concluding the contract and receipt of the advance payment
• Deadline: 28 September 2013 + six weeks to obtain an occupancy permit
• Warranty period: three years, with the exception of equipment - according to the manufacturer's warranty, but not less than one year
• Financial terms and conditions:
  • Advancement payment: EUR 1,300,000
  • Payment: 40 days from the date of delivering an invoice to the contracting authority - for payments made from own resources of the contracting authority, 30 days from the date of delivering invoice an invoice to the contracting authority - for payments made from bank credit and for the final payment
  • Bank guarantee of successful execution: 5% of the net contract value
• Maximum penalties: 8% of the net contract value
• The contracting authority reserves the right to claim supplementary compensation which carries the amount of contractual penalties to the amount of damage actually suffered
• The Management Board of Budimex SA also announces that on 28 October 2011, a contract was signed with the same contracting authority, on execution of preparatory and demolition works for the construction of the Neptun Office Centre, with the value of PLN 1,500,00

Cumulative value of the offers exceeds 10% of the equity of Budimex SA.