Current report no. 20/2011
Date of issue: 2011-07-04
Name of issuer: TALEX
Subject: Concluding a significant agreement with Bank Zachodni BZ WBK SA
Legal basis: Art. 56 (1) (2) of the Act of 29th July 2005 on public offerings - current and periodical information
The contents of the report:
Management of Talex S.A. hereby informs that today the Company has received information on signing an agreement of 21 June 2011, concluded with Bank Zachodni WBK with its seat in Wroclaw.
The subject of the concluded Framework Agreement is the consolidation of IT services and ongoing maintenance of the bank's IT environments. The detailed scope of services provided by the Company under the Agreement is specified in the so-called Work Packages, constituting the appendices to the Agreement, which will be signed by the parties according to the emerging needs of the Bank.
The Framework Agreement, accompanied by its Work Packages has been concluded for an initial period of three years with the possibility to extend this period indefinitely. The total net value of the Agreement together with the signed Work Packages is estimated at the amount of PLN 25.3 million for the period of 3 years. The actual value of the Agreement can be changed in case of changes in the volume of services provided under the Agreement.
The individual Work Packages provide for liquidated damages with the maximum amount limited to 20% of the value of the Work Package. Payment of penalties does not exclude the right to claim damages in excess of the amount of these penalties. The amount of claims for damages arising from the Work Package is limited to a total value of payments due to the Company for the completion of the Work Package. In the case of claims arising from the Work Packages concerning services of cyclical nature, rendered in a period longer than one year, the amount of claims is limited to the value of payments due to the Company for the completion of a given Package for the period of 365 days preceding the claim.
The criterion for the recognition of the agreement as significant: the amount of equity.
TALEX SA declares that corporate documents and financial reports are published in English for information purposes only. TALEX SA is not liable for the accuracy of the translation of the original documents in Polish. The original versions of that documents are available at the management board office in Poznań, Karpia Street 27d.