Investor relations

The Management Board of J.W. Construction Holding S.A. with its business seat in Ząbki, hereinafter referred to as the “Company”, informs that, on August 28, 2018, it signed a contract with FABET-KONSTRUKCJE Spółka z o.o.with its business seat in Kielce (hereinafter referred to as the “Contractor”) for the performance of the following works in the investment territory carried out by the Company in Warsaw at Kasprzaka street, Phases Dm and DK: 

- drainage of the excavation; 

- execution of earth works;

- securing the excavation walls - slurry wall;

- comprehensive performance of reinforced concrete works;

- comprehensive performance of wall works.

The date for finishing works was set on October 21, 2020. 

The Contractor’s remuneration is based on the scope of works to be performed and constitutes a fixed sum of PLN 140.262.989,82 + VAT tax in the applicable rate as of date on which those invoices are issued.   

The Contractor will provide the Company with a 60-month guarantee for the performed works. The day from which the said period starts to run is the date of receiving a certificate of occupancy. 

With an eye to securing the Company claims due to improper performance of the contract, from every issued invoice, a guarantee deposit in the amount of 3% of its net value will be withheld that will be returned to the invoice issuer in the following order: 1% after 60 days upon the completion of works and final acceptance; 2% after the expiry of the guarantee period.   

The Contractor can replace those warranty deposits with a bank guarantee.

The Parties have decided that the Company is entitled to a contractual penalty in the amount of the 10% of contractual remuneration if the contract is terminted for reasons directly attributable to the Contractor. The Contractor will be entitled to a contractual penalty in the amount of the 10% of contractual remuneration if the contract is terminted for reasons directly attributable to the Contractor. The Company is entitled to seek compensatory damages exceeding the amount of the stipulated contractual penalties to the amount of actually borne losses.

The Company shall be entitled to a contractual penalty for every day of delay with regard to the completion of works in the amount of 0,2% of the net value of remuneration with regard to the stage it concerns; the Company will be also entitled to a contractual penalty for every day of removal of faults and defects in the guarante period in the amount of 2% of the net value of the element that such a fault or defect concerns.  

In the remaining scope, the Agreement conditions are not significantly different from those commonly applicable in such agreements.

The basis for providing this report is the significance of the agreement signed for the activity of the Company’s Capital Group due to its value and subject.