The Management Board of Mostostal Warszawa S.A. (“Company”) informs that today, the Company signed an agreement with Mennica Polska S.A. for performance of construction work as part of an investment task under the name: construction of a multi-family residential building with service functions and underground garage, area management, entry to the real property and the necessary technical infrastructure, including municipal transformer stations, located in the area of plots with Nos. 110/1, 110/3, 110/4 within area 6-01-06, constructions of exits on fragments of road lanes of ul. Pereca, plot No. 10/1 within area 6-01-06 and construction of the necessary technical infrastructure on plots with No. 6, 10/1 within area 6-01-06 at ul. Waliców 11 in Warsaw, along with disassembly of a part of the Aurum office building located on plot with No. 110/3 within area 6-01-06 at ul. Waliców 11 in Warsaw.

Completion deadline of the agreement: 31 May 2019.

The value of the agreement amounts to: PLN 103.150 million net + VAT.

Payment deadline: 30 days from invoice receipt.

Guarantee period:

- 6 years for the investment task in total, encompassing, in particular, construction work and additional work, including finishing work;

- a minimum of 24 months for equipment and machines or for a longer period of time resulting from a guarantee indicated by the manufacturer of the equipment.

Performance bond for the contract: bank performance bond for the total amount of 10% of the net contract value.

The Management Board of Mostostal Warszawa S.A. (“Company”, “Contractor”) informs that yesterday, the Company signed an agreement on construction work with Ronson Development Partner 4 Spółka z ograniczoną odpowiedzialnością - Panoramika Spółka komandytowa (“Investor); the agreement is going to be executed in the general contractor system and will consist in construction and procurement of a final occupancy permit for a multi-family residential building, specified in design documentation as “L4” building, along with single-storey underground garage, above-ground parking spaces, necessary access roads and accompanying infrastructure, including networks and connections, as well as management of the area and construction and procurement of a partial occupancy permit for “0” status of the building specified in design documentation as “L3” (“Partial Decision”) in Szczecin at ul.  Panoramiczna and Krasińskiego on a plot with record No. 50/9 in Pogodno district.

Execution deadline: 22 months from handing over the construction site to the Contractor and additionally 2 months from the date of completion of construction work for procuring the Partial Decision.

Remuneration of the Contractor: PLN 27.23 million net.

Payment deadline: 30 calendar days from the date of receipt, by the Investor, of an invoice issued by the Contractor.

The guarantee period amounts to:

- 5 years for all works and materials used;

- 5 years for machines and devices with a reservation that if the terms of the guarantee granted by the manufacturer of materials or equipment stipulate a longer guarantee period than the guarantee granted by the Guarantor, a guarantee period equal to the manufacturer’s guarantee shall be applied; - 5 years for windows;

- 10 years for tightness of roof cover and structural elements of the roof; 

- 10 years in reference to the reinforced concrete structures, steel structures, brick structures and stability of escarpment;

- 10 years in reference to water insulation and dilatation;

- 1 vegetation season, however not less than 2 years in reference to greenery.

Performance bond for the agreement: unconditional, irrevocable and payable upon first demand bank guarantee or insurance guarantee issued by a bank or insurance company for an amount constituting 10% of the value of remuneration.