Current Report No. 46/2009

Legal basis:
Article 56, paragraph. 1 point 2 of the Act on Public Offering - current and periodic information

Management of the Company announces that on 01.12.2009 entered into a contract with a major Virk Sp. z oo with its seat in Poznan.

Agreement is subject to execution by POZBUD T & R SA, the construction of residential buildings 4 and 5, the number of plots 6 / 11 and 6 / 12 held in Poznan Street. Mogileński.

The value of the contract amounts to PLN 4,912,000 net, where:

a) for building No. 4 - net salary in the amount of PLN 2,456,000

b) for building No. 5 - net salary in the amount of PLN 2,456,000

The parties agreed deadline for completion of the course of the contract:

a) 15.07.2010, for Building No. 5

b) 15.08.2010, for Building No. 4

The agreement contains provisions specifying the amount of contractual penalties, according to which the contractor may be required to pay the investor (Virk Sp. Z oo) the following penalty clause:

- The inappropriate timing of the various parts or the whole subject of the contract - in the amount of 0.01% of gross contractual salary,

- For them to remove or delay in removing defects or deficiencies identified in the receipt of the final or in the warranty period for defects in the reception and after-sales service-in of 2,000 zloty per day of delay from the date appointed for the removal of defects,

- The cancellation of the contract for reasons attributable to the contractor in the amount of 10% of gross contractual salary.

Parties reserved the right to additional compensation amount to the amount of contractual penalties actually suffered losses. Parties also reserved the right to seek damages to the amount of the loss of titles for which the agreement does not provide for contractual penalties.

The agreement was considered significant because of its total value exceeds 10% of the equity of the Issuer.

In order to implement the agreement described POZBUD T & R SA concluded a consortium agreement with the company BOR-Bud Construction and Renovation Company based in Suchy Las. Issuer as the leader of the consortium will provide manufacturing and installation of joinery. BOR-Bud Construction and Renovation Company as a Partner of the consortium will perform other works related to the implementation tasks.
Agnieszka Lachor - Proxy