With reference to information published, i.a., in the report for the first quarter of 2020 concerning the proceedings of the Court of Appeal in Białystok against the Podlaskie Voivodeship represented by Province Roads Authority of Podlaskie Voivodship (PZDW, Ordering Party) and PZU SA (PZU as the issuer of the guarantee) aiming to establish that the Ordering Party is not entitled to an enforceable claim for payment of the contractual penalty, in relation to which the court awarded the Consortium of companies (Consortium) with UNIBEP SA (Consortium Leader) and Most Sp. z o.o. (Consortium Member) a security by ordering PZDW to refrain from collecting funds from the insurance guarantee issued by PZU as a security for diligent performance of the agreement for construction and expansion of the regional road No. 673 on the section Dąbrowa Białostocka - Sokółka (Agreement) and removal of defects (Warranty), Management Board of Unibep SA (Issuer, Company) informs that despite taking further means of recourse related to the decision to dismiss the Consortium's appeal in the above-described proceedings, on 24 September 2020, PZU provided the Ordering Party and the Issuer with a letter informing that it will perform the obligation arising from it in the amount due to the Ordering Party as the beneficiary of the Guarantee corresponding to the amount of the contractual penalty and interest charged the Consortium by the Ordering Party, i.e. in the total amount of approx. PLN 8.3 million. The Issuer expects the payment of the above amount to be paid in the forthcoming days.

Attachments:

Rb_53_2020.pdf