Significant contract signed

2016-05-06

The Management Board of ELEKTROBUDOWA SA ("the Company", "the Subcontractor") informs that on 5 May 2016 the Company received a subcontract agreement signed by Amec Foster Wheeler Environment & Infrastructure, Inc. (further referred to as "Amec Foster Wheeler"), a corporation having a place of business in the USA, for the performance by the Company of electrical and communications systems work, including deliveries, associated with Aegis Missile Defense System Complex, European Phased Adaptive Approach, Phase III Construction Contract in Redzikowo, Poland.

According to the provisions of the subcontract the agreement amount is 10.5 million USD net of any applicable Value Added Tax, which is an equivalent of 40.5 million PLN translated according to an average exchange rate announced by the National Bank of Poland on 5 May 2016.

The contractual works shall be completed within 30 October, 2017.

The total amount of liquidated damages for delay shall not exceed 15% of the Agreement Amount. Irrespective of the above liquidated damages, Amec Foster Wheeler shall be entitled to additional compensation in the event the liquidated damages do not cover the entire damages suffered by Amec Foster Wheeler resulting from the delay.

The agreement is acknowledged as significant as its value exceeds 10% of equity of ELEKTROBUDOWA SA.

Legal basis
Art. 56 item 1.2 of the Public Offering Act - current and interim information

The Company's authorized representatives:
Janusz Juszczyk, President
Paweł Skrzypczak, Vice President

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Elektrobudowa SA published this content on 06 May 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 06 May 2016 08:22:05 UTC.

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