Signing of agreement with Alstom Power Systems GmbH to install auxiliary pipelines for the pressure component of a 910MW boiler in the Rheinhafen-Dampfkraftwerk power station in Karlsruhe.
Publish date: 01.25.2012The Management Board of Energomontaż-Południe S.A. (the Issuer the Contractor) announces that on 24 January 2012 the Company signed with Alstom Power Systems GmbH an agreement to install auxiliary pipelines for the pressure component of a 910MW boiler in the Rheinhafen-Dampfkraftwerk power station in Karlsruhe.
The Management Board of Energomontaż-Południe S.A. (the Issuer, the Contractor) announces that on 24 January 2012 the Company signed with Alstom Power Systems GmbH an agreement to install auxiliary pipelines for the pressure component of a 910MW boiler in the Rheinhafen-Dampfkraftwerk power station in Karlsruhe. The agreement, valued at EUR 6.75 million (approximately PLN 28.9 million according to the mid-price exchange rate of the National Bank of Poland on the date of publication of this report) is another package of work awarded to the Issuer to be carried out at the above site.
The individual parts of package 4 (subject of the order) have various completion deadlines, but not exceeding 5 May 2012.
The agreement contains provisions concerning contractual penalties that may be imposed on the Contractor in an amount of 1 per cent of the value of the agreement for each commenced week of delay, up to a maximum total amount of 10 per cent of the value of the agreement.
The Issuer adopted 10 per cent of the value of its own equity as the criterion for recognising the contract as significant.
Detailed legal basis: Clause 5 par. 1 pt. 3 of the Regulation of the Minister of Finance on current and periodic information published by issuers of securities (...) of 19 February 2009.
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