Current report no. 5/2018 of 1 February 2018 – Update of information – Settlement concerning ISOK

This current report was published via ESPI system on 1 February 2018, at 11:41

With regard to the information included in the current report no. 85/2017 of 29 December 2017 concerning agreement on conditions of settlement (hereafter referred to as the “Settlement”) and signing a second letter of intent concerning settlement negotiations regarding the contract of 29 August 2013 entered into between the Company and State Treasury – National Water Management Authority and Institute of Meteorology and Water Management – National Research Institute (hereinafter jointly referred to as the “Ordering Party”) concerning design, construction and implementation of an IT system of the country’s protection from extraordinary threats (hereinafter jointly referred to as the “ISOK”), in which the Parties expressed their intent to enter into a Settlement within the frames of the court proceedings until the day of 31 January 2018. The Management Board of Qumak S.A. (hereinafter referred to as the “Company”) informs that until 31 January 2018 the subject settlement did not take place.

Reason for delay in entering into a Settlement within the planned period of time is prolonged process of obtaining positive opinions concerning the agreed conditions of the Settlement from public institutions, which co-operate or supervise the Ordering Party and a supervisory body of the Company.

The Parties did not set a new date of entering into the Settlement – it shall be made immediately after obtaining the necessary positive opinions.

The Company informed on the course of the dispute on the ISOK project in the current reports no. 23/2016 of 28 June 2016, 26/2016 of 22 July 2016, 28/2016 of 16 August 2016,  32/ 2016 of 11 October 2016, 34/2016 of 21 October 2016, and 78/2017 of 27 November 2017.


Legal grounds:

Article 17 section 1 MAR – confidential information.