Announcement.

TECHMADEX SA (18/2017) Issuance by the Regional Court in Warsaw of the decision rejecting the Consortium's application with the participation of the Issuer to secure the claim before bringing an action

Legal attitude: Art. 17 para. 1 MAR - confidential information. Referring to the current report of ESPI No. 9/2017, the Management Board of Techmadex S.A. ("Issuer") informs that on October 2, 2017, the Consortium composed of: Techmadex S.A. (Consortium Leader), Atrem S.A. (Consortium Partner) and GP Energia Sp. o. o. (Consortium Partner), he received information about the decision by the Regional Court in Warsaw to dismiss the Consortium's request for securing a claim before bringing an action. The requested collateral was supposed to secure the Consortium's claims about: a) determining that Operator Gazociągów Przesyłowych Gaz-System S.A. with its registered office in Warsaw, it is not entitled to demand from the Consortium the payment of PLN 9.767.430,00 (in words: PLN nine million seven hundred sixty seven thousand four hundred thirty zlotys and 00/100) as a contractual penalty under the agreement regarding the construction of the Gas Calibration Laboratory at the working pressure at TJE Hołowczyce as part of the implementation of the project entitled Development and implementation of gas meter calibration technology at medium and high pressure in an open-close system ("Agreement") and b) determination that Operator Gazociągów Przesyłowych Gaz-System S.A. no right to demand from Interrisk Towarzystwo Ubezpieczeń S.A. Vienna Insurance Group with its registered office in Warsaw, payment of PLN 2,697,000.00 (say: two million six hundred and forty seven thousand zlotys and 00/100) as payment from the insurance guarantee of due performance of the Contract and a possible claim for: c) discontinuation of unlawful use by Operator Gazociągów Przesyłowych Gaz-System SA from the insurance guarantee of due performance of the Contract. In the content of the decision, the Court pointed out that, in the opinion of the Court, evidence provided by the Consortium allows acceptance that the Consortium has credited its claims to exclude liability for the activities of their subcontractors and, consequently, no grounds for charging a contractual penalty. The court stated in the wording of the order that the Consortium provided sufficient evidence to the Court to confirm their position regarding the conditions precluding their guilt in failing to meet the contractual deadline, which in accordance with the Agreement exempted the contractor from liability for non-performance or improper performance of the Contract, and consequentlydid not give Operator Gazociągów Przesyłowych Gaz-System S.A. grounds for charging a contractual penalty. The submission by the Consortium of an application for securing claims resulted from Gaz-System S.A. made by Operator Gazociągów Przesyłowych. a call addressed to InterRisk Towarzystwo Ubezpieczeń S.A. Vienna Insurance Group (Guarantor), for payment from the insurance guarantee of due performance of the Agreement, PLN 2,767,000.00, as reported by the Issuer in the current report of ESPI No. 8/2017. The Issuer continues to question the claims of Operator Gazociągów Przesyłowych GAZ - SYSTEM S.A., considering them completely unfounded. The consortium will challenge the Court's decision with a complaint, because in view of the Consortium's claims and the contents of the insurance guarantee, the Consortium believes that the rejection of the application for security due to the absence of a legal interest by the Consortium is not justified. At the same time, in view of the Court's finding that the Consortium has justified the existence of its claims, the Consortium intends to file a lawsuit in the coming weeks against Operator Gazociągów Przesyłowych GAZ - SYSTEM S.A., whose demand will be determined depending on the actions taken by InterRisk Towarzystwo Ubezpieczeń S.A. Vienna Insurance Group. The consortium with the participation of the Issuer has so far filed against Operator Gazociągów Przesyłowych GAZ - SYSTEM S.A. an action for the payment of PLN 12.140.070.20 in respect of amounts due under the contract, corresponding to the value of the undue payment, of which the Issuer informed in the current report of the EBI No. 3/2016.

Source: company website, investor relations, current and periodic reports.

ALL COMPANY ANNOUNCMENTS
Company information
Company name:Techmadex SA
ISIN:PLTHMDX00012
NIP:5260214249
Adress: ul. Migdałowa 91 02-796 Warszawa
Phone:+48 22 6251856
website:www.techmadex.com.pl

Copyright © 2017 PolandStockExchange
This website uses cookies (Regulations / Cookie Policy).