Board of AWBUD S.A. in Fugasówka ("Issuer") informs that on 11 July 2017 he was informed by the Management Board of INSTAL - LUBLIN Sp. z o.o. in Lublin - a subsidiary of the Issuer - ("Subsidiary", "INSTAL- LUBLIN") on 10 July 2017, order No. 70020-2557 between Budimex SA and Técnicas Reunidas SA-Turów civil partnership, as the Employer and INSTALL- LUBLIN as the Contractor ("Agreement"). Br> The subject of the Agreement is the delivery and assembly of HVAC HVAC SUPPLY & ERECTION heating, ventilation and air conditioning as part of the construction of a new power unit at Turów Power Plant. br> For the performance of the subject of the Agreement, the Subsidiary will receive remuneration in the amount of PLN 18,700,000 (eighteen million seven hundred thousand zlotys and 00/100), which is subject to a VAT increase. The amount of remuneration referred to in the preceding sentence is an estimated value. The final amount of remuneration due to the Subsidiary for the performance of the subject of the Agreement will be determined taking into account the lump sum prices and unit prices of unit prices specified in the annexes to the Agreement and the scope of works performed in accordance with the design documentation. Br> Implementation of the Contract should take place in October 2017. - May 2018. br> Pursuant to the Agreement, contractual penalties were reserved in the amount of: br> 1) 0.15% of the remuneration specified in the Agreement for each day of default in meeting the Partial Deadlines for Performance; br> 2) 1% of the gross remuneration specified in the Agreement for each full week of default in complying with the Initial Acceptance Deadline; br> 3) 15% of the gross remuneration specified in the Agreement for withdrawal from the Agreement by the Employer for reasons attributable to the Contractor as well as in the event of withdrawal from the Agreement by the Contractor due to reasons beyond the control from the Employer. br> The total amount of contractual penalties referred to in point 1) and point 2) above, accrued under the Agreement may not exceed 10% of the net contractual remuneration due to the Subsidiary under the Agreement. Br> The contract reserves the Employer's right to claim damages exceeding the amount of reserved contractual penalties. Br> Other terms of the Agreement do not differ from conditions commonly applicable to this type of contract. br> Conclusion of this Agreement has been considered confidential information due tothe amount of remuneration payable to the Subsidiary in accordance with the Agreement. br>
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