CPD S A : 28/2020 Conclusion of general construction agreement

Management Board of CPD S.A. informs that on 2 September 2020, subsidiary of the Issuer i.e. Ursa Sky Smart City spolka z ograniczona odpowiedzialnoscia sp.k. as the Ordering Party, concluded a general construction contract with Unibep S.A. in the role of the Contractor. The contract will be carried out in the general contracting system under the project called Ursa Sky, located on the land surveying plot No. 113/8, between the streets: Silnikowa, Herbu Oksza and Quo Vadis in Warsaw.

The investment is a joint construction project which is the implementation of a complex of multi-family buildings with services and accompanying infrastructure, i.e. a housing estate including the construction of 2 residential buildings with an underground garage and land development.

The works will be performed in two stages. The 8-storey buildings under construction will include a total of 384 apartments, 12 commercial premises and 376 parking spaces.
The commencement date of the 1st stage is planned for the 3rd quarter of 2020 and the completion for the 4th quarter of 2021. The commencement date of the 2nd stage is planned for the 1st quarter of 2021 and the completion for the 3rd quarter of 2022.

The net remuneration for the 1st stage is PLN 47,3. The remuneration for the implementation of the second stage was set at PLN 46,9 net.

In the event of withdrawal from the Agreement due to the fault of the Ordering Party, the Agreement provides Contractor possibility of charging a contractual penalty in the amount of 10% of the net remuneration for the performance of a given stage. The reservation of contractual penalties does not deprive the Contractor of the possibility to claim damages in excess of the value of the contractual penalty on general terms.

In the event of withdrawal from the Agreement due to the Contractor's fault, the Agreement provides Ordering Party possibility of charging a contractual penalty in the amount of 10% of the net remuneration for the performance of a given stage. The reservation of contractual penalties does not deprive the Ordering Party of the possibility to claim damages in excess of the value of the contractual penalty on general terms.

The remaining contractual provisions do not differ from the terms commonly used for this type of agreement.

Legal basis:
Article 17.1 MAR - Inside information

Signatures of the persons entitled to representation:
Elżbieta Wiczkowska, Member of the Board, 2 September 2020
Iwona Makarewicz, Member of the Board, 2 September 2020