Signing of a significant contract with value of PLN 72 million net for design and construction of an office building together with technical infrastructure and land development at the Forteczna Street in Toruń.
Legal basis:
Article 17 section 1 of the MAR [Market Abuse Regulation] - confidential information.
Report content:
The Management Board of Erbud SA (Issuer) hereby informs that on August 26, 2024, it signed the significant contract with value of PLN 72 million net for design and construction of an office building together with technical infrastructure and land development at the Forteczna Street in Toruń, under the conditions described below:
1. Date of conclusion: August 28, 2024
2. Investor (exact name and registered office): MENTOR SA, ul. Szosa Chełmińska 177-181, 87-100 Toruń
3. Contract value (PLN, net) 72,000,000.00
4. Subject of the contract: Design and construction of an office building together with technical infrastructure and land development at the Forteczna Street in Toruń.
5. Place of contract performance: Toruń
6. Time limits of performance:
1. Start date - with the date of signing the contract
2. End date - 18 months from the date of taking over the construction site
7.Payment Terms: Do not deviate from market standards
8. Good performance guarantee (value, validity period): 5% of the Remuneration in the form of an insurance guarantee within the period of the time limits for implementation
9. Guarantee for repair of defects and faults (value, validity period): 5% of the Remuneration in the form of an insurance guarantee within the period of the 3-year guarantee
10. Other guarantees (type of guarantee, value, validity period): Do not deviate from market standards, 3-year basic guarantee
11. Penalties: Penalties do not deviate from market conditions for this type of contracts.
The total sum of contractual penalties may not exceed 10% of the amount of the Remuneration”.
12. Notes: Construction in stages:
Stage I - design and obtaining a building permit,
Stage II - construction implementation, subject to submission of an application for issuing a decision on a building permit and submission of a summon to the Contractor by the Investor to commence work.
Contract implemented by the Toruń Branch.