Report No. 59_Conclusion of a contract for the construction of a "B6" multi-family residential building at Rzeczpospolita Ave. in Warsaw

The Management Board of Mostostal Warszawa S.A. ("Company") informs hereby that on 28 October 2019, the Company concluded an agreement with Acciona Nieruchomości Wilanów Sp. z o.o. with headquarters in Warsaw for the implementation of the task Construction of a "B6" multi-family residential building with underground garages and accompanying services on plots of land no. 7/86; 7/84 (Rzeczpospolita avenue) part of precinct 1-10-26 in Warsaw.

 

Contract value: PLN 60.17 million gross

Completion date: by 29.10.2021.

Payment deadline: implemented on Material, Time and Financial Schedule within 30 days from the date of delivery of each partial invoice and final invoice.

Warranty period: 72 months.

Performance protection:

• cash deposits worth 5% of each partial invoice and final invoice.

• promissory note with a declaration and declaration of submission to enforcement in the amount of 5% of the value of remuneration due.

• both collaterals will be returned after final acceptance and replaced by a bank or insurance guarantee for the period of guarantee and warranty in the amount of 5% of the remuneration due.

 

Legal basis:

Article 17 para. 1 of the MAR Regulation.

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