The Management Board of Mostostal Warszawa S.A. informs that today the company signed with Medical Investment Trust Sp. z o.o., a contract for “the execution of works under the general contractor for the investment involving the construction of the hotel building with apartments at the intersection of Mestwina and Międzymorze in Jurata with an underground garage with land development and technical infrastructure on the plot with registration number 326 of 0003 precincts Jastarnia".

The parties agreed the deadline for the completion of contract till 6 February 2018. 
The value of the contract amounts to PLN 14.50 million net.

Payment deadline: 30 days from the date of filing the invoice.

Guarantee periods: 60 months for the quality guarantee and guarantee for physical defects in the object of the contract.

The security for the proper performance of subject of the Agreement and claims arising from it is unconditional insurance performance guarantee of 10% of net salary. In the guarantee and warranty period the Contractor shall provide an unconditional and payable on each request bank or insurance guarantee removal of faults and defects after the final acceptance of the subject of the Agreement in the amount of 5% of the net salary.

The Management Board of Mostostal Warszawa S.A. announces that yesterday the company received a call for the payment dated 12.13.2016 regarding the request for payment of a penalty charged by Energa Kogeneracja Sp. o.o. Elblag due to the failure to achieve guaranteed technical parameters of ecological biomass-fired power unit with a power 20MW ("Block") in the thermal power plant in Elblag.

The call was issued by Energa Kogeneracja Sp. z o.o. (“Energa”) and amounts to PLN 22,549,052.70

The company believes that the Energa claim in the amount of PLN 22,549,052.70 in connection with the failure to achieve by the “Block” guaranteed technical parameters does not exist and there was no basis to charge penalties with the abovementioned title.

In particular, the company indicates that in its opinion, Energa exploited Block in contravention with the terms of the contact and operating instructions / exploitation i.e. Energawas burning the fuel with parameters contrary to the findings of the contract and also Energa did not carry out so-called parameters measurements guaranteed in a manner consistent in the contract.

Therefore, the company believes that the results of such measurements do not constitute grounds to establish that the guaranteed technical parameters of the Bloc have not been achieved.

Issuer in entirely dispute and considers as unfounded claim made by Energa Kogeneracja Sp. z o.o.