Information update – reversal of provisions for a contractual penalty to the Contract concluded with AWBUD S.A.

The Board of ELEKTROTIM S.A. (hereinafter referred to as: the Company) informs that on 28.11.2019 the Board of the Company passed a resolution on reversal of provisions for the amount of PLN 963,754.22 which had been established by the Company in May 2018 for a contractual penalty imposed by AWBUD S.A. with its seat in Fugasówka to the Contract of 30.06.2015 which subject was the execution of the following investment task: “The construction of a public building Rehabilitation and Sport Medicine Centre in Wrocław together with the development of the area and necessary technical infrastructure, including an exit from ul. Lekarska” carried out by AWBUD S.A. for the following investor: MedicoInvestment Sp. z o.o. with its seat in Wrocław.