Conclusion of a significant agreement by a subsidiary of TIM SA

Date

2016-08-09

Current report no.

39/2016

Management Board of TIM SA with its registered office in Wrocław hereby notifies that on 09.08.2016 the company 3LP SA with its registered office in Siechnice in which TIM SA holds 100 % shares, signed an agreement with the company SSI Schaffer Sp. z o.o. with its registered office in Warsaw.

The subject of the agreement, referred to above, is manufacturing, supply to the place of delivery – Logistics Centre in Siechnice and assembly and installation at the place of delivery by SSI Schaffer Sp. z o.o. for 3LP SA of the devices: conveyor system, packing station and shipping sorter.
For the performance of the subject of the agreement the company SSI Schaffer Sp. z o.o. will be entitled to lump sum net remuneration in the amount of EUR 660 950 in words: six hundred sixty thousand nine hundred and fifty EUR_. VAT in the amount calculated in accordance with applicable provisions of law will be added to the remuneration, referred to above. Pursuant to the provisions of the above Agreement the date of putting the devices into service has been specified by the Parties to the above Agreement for the day of 11.03.2017.
The provisions of the above-mentioned Agreement do not diverge from the market standards applicable in agreements of this type.
The maximum amount of contractual penalties for improper performance of the Agreement amounts to 20% of the remuneration referred to above.
The total value of the agreements concluded between 3LP SA and SSI Schaffer Sp. z o.o. in 2016 amounts to EUR 3,882,130.
In the years 2015 – 2016 agreements concluded by TIM SA and the subsidiary of TIM SA – 3LP SA with the company SSI Schaffer Sp. z o.o. with its registered office in Warsaw exceeded the value of 10% of the equity of TIM SA. Given the above, the Management Board of TIM SA, in accordance with the adopted reporting standards deemed the above agreement significant.

2016-08-09, Artur Piekarczyk – Member of the Board
2016-08-09, Anna Slobodzian-Pula – Member of the Board