Signing of a Significant Contract with a net value of PLN 89.79 million for the construction of the Studio Building (recording studios) as the first stage of the planned building complex of the CAMERIMAGE European Film Centre in Toruń.
Article 17(1) MAR - confidential information.
The Management Board of ERBUD S.A. (Issuer) hereby announces that today it signed a Significant Contract with a net value of PLN 89.79 million for the construction of the Studio Building (recording studios) as the first stage of the planned complex of buildings of the European Film Centre CAMERIMAGE in Toruń, under the conditions specified below:
1. Contract date: 2023.10.04
2. Investor (exact name and registered office): “European Film Centre CAMERIMAGE, 28 Rynek Nowomiejski Street, 87-100 Toruń”.
3. Contract value (PLN, net): 89,790,187.20
4. Subject of the Contract: Construction of the Studio building (recording studios) as the first stage of the planned CAMERIMAGE European Film Centre building complex.
5. Place of Contract performance: Toruń
6. Implementation deadlines:
1) Site handover and all intermediate dates - in accordance with the Schedule.
2) Completion of works: 22 months from the signing of the Contract
7. Payment terms: Invoicing according to progress, one per month, payment term 30 days
8. Performance bond (value, duration): 5% of the gross remuneration in the form of an insurance guarantee during the period of performance dates
9. Retention bond (value, duration): 1.5% of the gross remuneration in the form of an insurance guarantee, reduced during the respective guarantee period
10. Other guarantees (type of guarantee, value, duration): Do not deviate from market standards, basic guarantee of 7 years for the subject of the Contract
11. Penalties: “The penalties shall not deviate from market conditions for this type of Contract. The total amount of contractual penalties shall not exceed 20% of the gross remuneration.”
12. Notes: Contract implemented by Toruń Branch