Current report 48/20172017-12-01

Current report no. 48/2017 (29.11.2017)

Title:

Conclusion of a contract for delivery of electric buses with Komunikacja Miejska sp. z o.o. in Szczecinek

Legal basis:

Art. 17 sec. 1 Market Abuse Regulation

Message:

The Management Board of URSUS S.A. hereby informs that on the 29th November 2017 the Issuer’s subsidiary concluded on behalf of the Consortium URSUS BUS (Supplier), composed of URSUS BUS S.A. and the URSUS S.A., a contract with Komunikacja Miejska sp. z o.o. in Szczecinek (Ordering Party) a contract for delivery of 10 new electric low-floor urban buses and 10 identical stationary chargers of traction batteries and a mobile charger within the loading system of traction batteries, adjusted to charge batteries in the offered buses.

Conclusion of the contract results from selection of the offer of the Consortium URSUS BUS in the open tender organized by Komunikacja Miejska sp. z o.o. in Szczecinek.

The gross value of the contract concluded by the Consortium is 23 279 718,00 PLN.

The Contract was concluded in compliance with the terms set out by the Ordering Party in the Terms of Reference.

Buses and chargers being subject of the Contract shall be delivered by the Supplier till the 31st August 2018.

The security of due performance of the Contract by the Supplier is an insurance guarantee granted upon the request of the Consortium URSUS BUS in the total amount of 2% of the contract value.8

The contract includes the provision on contractual penalties.

The Supplier shall pay the Ordering Party a contractual penalty for the failure to meet the deadline of completion of the order set out in the contract – in the amount of 5% of the gross value of the total delivery, for a delay in removal of faults/ defects identified during take-over or in the period of warranty and guarantee for defects - in the amount of 0,01% of the gross value of each defected bus, for each commenced day of delay, as well as for withdrawal from the contract for reasons caused by the Supplier – in the amount of 10% of the total gross value of the delivery.

The Ordering Party shall pay the Supplier the contractual penalty for withdrawal from the contract for reasons caused by the Ordering Party - in the amount of 10% of the total gross value of the delivery, as well as for the failure to collect the order subject within the agreed date – in the amount of 0,01% of the total gross value of the delivery, for each day of delay in receipt.

According to the provisions of the contract, each Party may claim for compensation, which is higher than the amount of contractual penalty under general terms and conditions.

According to the Individual Reporting Standard of URSUS S.A., adopted by the Issuer with reference to the reporting obligations resulting from the Market Abuse Regulation, the above-mentioned contract is considered to be material due to the fact that its value exceeds 10% of the equity of the Issuer’s Capital Group.

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