News

Current report no. 51/2022 (01:58 p.m.)

Subject:
Signing of a Significant Contract with a net value of PLN 67.4 million for Construction Works related to the Lotos Group’s HBO Project.

Legal basis:
Article 17(1) MAR - confidential information.

Report content:
The Management Board of ERBUD S.A. (Issuer) hereby announces that today it has signed a Construction Contract - Lotos Group HBO Project - on the following terms and conditions:

1. Contract date: 12.10.2022
2. Investor (exact name and registered office): “KT-Kinetics Technology S.p.A. ul. Vialle Castello della Magliana 27, 00140 Rome (Italy)”
3. Contract value (PLN, net): 67,373,435.00
4. Subject of the contract: Lotus Group HBO Project - Construction works
5. Place of Contract performance: Gdańsk
6. Completion dates:
1) Commencement of works - 12.10.2022
2) Completion of works - 24.06.2024
7. Payment terms: Invoicing according to maturity, once a month, payment term 45 days
8. Performance bond (value, duration): 10% of the net remuneration in the form of a bank guarantee during the performance period
9. Retention bond (value, duration): 5% of the net remuneration in the form of a bank guarantee during the guarantee period
10. Other guarantees (type of guarantee, value, duration): Not different from market standards, basic warranty 32 months
11. Penalties: The penalties do not deviate from market conditions for this type of contract.
12. Notes: Construction on the site of the Lotos plant in Gdańsk. Construction implemented by Toruń Branch.

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