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 of Mostostal Warszawa S.A. (“Company”), in reference to current report No. 2/ 2016 informs that it received the relevant documents with respect to conclusion, by the Company and Acciona Infraestructuras S.A. on 30 December 2016, of annexes to loan agreements with significant value:

1. Annex No. 4 to the loan agreement of 05.08.2013 about which the Company informed in current report No. 43/2013 of 07.08.2013 and current report No. 2/2016 of 11.02.2016. The object of Annex No. 4 to the loan agreement of 05.08.2013 is extension of the deadline for repayment of the loan until 31 January 2019;

2. Annex No. 5 to the loan agreement of 27.05.2013 about which the Company informed in current report No. 29/2013 of 06.06.2013 and in current report No. 2/2016 of 11.02.2016. The object of annex No. 5 to the loan agreement of 27.05.2013 is extension of the deadline for repayment of the loan until 31 January 2019;

3. Annex No. 6 to the loan agreement of 24.11.2011 about which the Company informed in current report No. 57/2011 of 25.11.2011, No. 53/2012 of 12.12.2012, No. 61/2013 of 22.11.2013 and current report No. 2/2016 of 11.02.2016. The object of annex No. 6 to the loan agreement of 24.11.2011 is extension of the deadline for repayment of the loan until 30 November 2018.

The total value of loans listed in Sections 1 – 3 amounts to EUR 32,270,833.33 which constitutes the equivalent of PLN 142,766,166.65 according to the average rate of the National Bank of Poland of 30 December 2016 in the amount of EUR 1.00 = PLN 4.4240.

The interest rate on loans was agreed on arm’s length principle.