Conclusion of a significant agreement by the subsidiary of TIM SA

Date

2016-07-12

Current report no.

35/2016

The Management Board of TIM SA, with its seat in Wrocław, would like to inform that on 12.07.2015, the company 3LP SA, with its seat in Siechnice, in which TIM SA holds 100% of shares, signed a significant agreement with the company SSI Schaffer Sp. z o.o., with its seat in Warsaw, dated 08.07.2016. 

The subject matter of the said agreement is the manufacture, delivery to the place of delivery – the Logistics Center in Siechnice –, assembly, and installation performed by SSI Schaffer Sp. z o.o. for 3LP SA of the following devices: an automated container warehouse with a system of conveyors and a “goods to man” picking station.
Due to the performance of the subject matter, SSI Schaffer Sp. z o.o. shall be entitled to a net lump sum remuneration in the amount of EUR 3,221,180 (in words: three million two hundred twenty-one thousand one hundred and eighty EUR). The said remuneration will be charged with VAT in the amount calculated in accordance with the applicable provisions of law. According to the terms and conditions of the said agreement, the date of handing over the equipment for operation was set by the Parties of the above mentioned agreement for 11.03.2017.
The terms and conditions of the a/m agreement do not differ from market standards of other agreements of that type.
The maximum amount of contractual penalties arising from the unduly performance of the terms and conditions of the agreement is 20 % of the remuneration described above.
Within years 2015 – 2016, agreements concluded by TIM SA and the subsidiary of TIM SA – 3LP SA with SSI Schaffer Sp. z o.o., with its seat in Warsaw, exceeded 10 % of equity of TIM SA. Therefore, the Management Board of TIM SA claimed the a/m agreement to be a significant agreement in accordance with the adopted standards of reporting.

2016-07-12, Artur Piekarczyk – Member of the Board
2016-07-12, Anna Slobodzian-Pula – Member of the Board