Polish Energy Partners S.A. (‘Company’) hereby notifies that on 23rd August 2013 the Company’s subsidiaries: (i) Grupa PEP – Farma Wiatrowa 1 Spółka z ograniczoną odpowiedzialnością (‘GPFW1’) and (ii) Grupa PEP – Farma Wiatrowa 6 Spółka z ograniczoną odpowiedzialnością (‘GPFW6’) concluded, each separately, agreements with a consortium of companies: Erbud S.A. and Przedsiębiorstwo Budownictwa Drogowo-Inżynieryjnego S.A. (‘Agreements’).
The Agreements refer to execution by the contractors to the benefit of GPFW1 of: complex works on construction of foundations for wind turbines, adaptation of approach roads to oversize transport, modernization of the existing roads, construction of service roads and assembly platforms for the purposes of implementation of Gawłowice Wind Farm, and to the benefit of GPFW6 of: complex works on construction of foundations for wind turbines, adaptation of approach roads to oversize transport, modernization of the existing roads, construction of service roads and assembly platforms for the purposes of implementation of Rajgród Wind Farm.
The value of the Agreement concluded by GPFW1 is PLN 29 710 984.40, whereas the value of the Agreement concluded by GPFW6 is PLN 18 966 935.10.
The total amount of stipulated penalties potentially due from the contractors under each of the Agreements shall not exceed 30% of the gross value of each Agreement.
Since the total value of the Agreements exceeds 10% of the Company’s equities, they were classified as material ones.
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