Current report no. 41/2016                           (16.11.2016)

Title:

Conclusion of agreement for delivery of electric buses with MZA sp. z o.o. in Warsaw

Legal basis:

Art. 17 sec. 1 Market Abuse Regulation

Message:

The Management Board of the Issuer informs that on the 16th November 2016 the Issuer concluded on behalf of the Consortium URSUS BUS (Contractor), composed of: URSUS S.A., AMZ KUTNO S.A. and URSUS BUS S.A., an agreement with Miejskie Zakłady Autobusowe sp. z o.o. with the seat in Warsaw (Ordering Party) for delivery of 10 new urban electric buses.

Cocnclusion of the agreement results from selection of the offer of the Consortium URSUS BUS in the open tender organised by MZA, of which the Issuer informed in the current report no. 33/2016 dated the 21st September 2016. The total gross value of the agreement is 24.981.300 PLN. The agreement is concluded according to the terms defined by the Ordering Party in the tender specifications. Buses being the subject of the agreement will delivered by the Contractor in lots till the 21th July 2017.

Zabezpieczeniem należytego wykonania umowy przez Wykonawcę jest gwarancja udzielona przez Konsorcjum URSUS BUS na kwotę równą 10% wartości umowy.

The agreement contains provisions regarding contractual penalties. The Contractor shall pay the Ordering Party a contractual penalty amounting to 10% of the total gross value of the agreement in case the Ordering Party withdraws from the agreement due to the circumstances for which the Contractor is liable. Besides, the Contractor shall be obliged to pay a contractual penalty for each day of delay in delivery of a lot of buses and for delay in delivery of technical documentation of the vehicles. According the agreement provisions, the Ordering Party, on general terms, may seek compensation exceeding the contractual penalties.

According to the Individual Reporting Standard of URSUS S.A., the above-mentioned agreement is considered to be material due to the fact that its value exceeds 10% of the equity of the Issuer’s Capital Group, presented in the last consolidated financial statement of the Capital Group URSUS published by the Issuer.