GIGROUP (GIG): Issuer's contract reached the value of PLN 34,640,653.00 - raport 57

Raport bieżący nr 57/2016

Podstawa Prawna:
Art. 17 ust. 1 MAR - informacje poufne.

The Management Board of "Work Service" S.A. (hereinafter referred to as: "Issuer" or "Company") informs that today it became aware that the total value of cash consideration of received orders for services performed by the Issuer for TP Teltech Sp. z o. o., an entity from telecommunications and ICT industry, with its registered office in Lodz, (hereinafter referred to as: “Client”), resulting from the framework agreement concluded on 6 October 2014 (hereinafter referred to as "Agreement") reached the value of PLN 34,640,653.00 (in words: thirty-four million six hundred forty thousand six hundred fifty-three zloty), which exceeds the threshold of 10% of the Issuer's equity, what in the light of the financial criteria of relevance of agreements internally accepted by the Issuer, decides about the importance of the agreement.

The subject of this Agreement is the performance of services by the Issuer for the Client, on the basis of individual contracts from the Client, of technical and administrative maintenance, including warehouse operations, logistics and purchase operations, estimation operations in the field of construction for telecommunication, telecommunication network design, project development and coordination, administration of automat TP maintenance process, telecommunication works, conservation and maintenance of machines and carriers, administrative support and services settlements.

The Issuer's remuneration for the execution of the Agreement is established under a detailed price list constituting an appendix to the Agreement.

The terms of the Agreement do not deviate from the market standards used in such agreements. The Parties did not reserve in the Agreement neither a condition nor a date. The Parties provided for the possibility of charging the Issuer with contractual penalties, which do not deviate from the market standards used in such agreements.

The agreement was concluded for an indefinite period of time. The Agreement may be terminated by any of the parties with a 3-month notice taking effect by the end of a calendar month.

On the basis of the conducted analysis of the event mentioned at the beginning, the Issuer concluded that it is justified to qualify the information about the fact as confidential within the meaning of Article no 17, Section 1 MAR, subject to the publication in the form of this report.

Legal basis:

1.Article no 17, Section 1 MAR (of Regulation (EU) no 596/2014 of the European Parliament and the Council of 16 April 2014 on market abuse (...)

Signatures:

Maciej Witucki – President of the Management Board

Iwona Szmitkowska – Vice-President of the Management Board