Announcement - Comment on a news report, 8 June 2017

8 June 2017

Announcement – Comment on a news report
Following news reports on the contract agreement entitled ‘Construction of new motorway
section Demir Kapija – Smokvica as part of Pan-European Corridor X’, the Company states
that, to date, it has not been notified of any prosecution and, therefore, is unaware of its
contents, should such a prosecution actually exist.
Please note the following concerning the press reports:
1. Following an audit, the judicial authorities of Skopje found, as early as 2014, that they
did not suspect that any offence had been committed and therefore closed the case.
2. This case is the same as that reported on by the press back in 2014, for which the
judicial authorities of Skopje have issued a definitive ruling.
3. As regards the procedure used to award the project concerned, AKTOR participated in
an international tender, for which a total of 15 international contractors submitted
bids. Please note that the tender procedure was also observed by a representative of
the European Commission, as well as by representatives of the banks that financed the
project, namely representatives of the European Investment Bank (EIB) and the
European Bank for Reconstruction and Development (EBRD). The Company was
awarded the project following submission of a final bid of EUR 210,148,177.23, and the
difference from the second lowest bidder was EUR 10,849,719.77. The other bids were
much higher, the last bidder on the list having submitted a bid that exceeded that of
AKTOR by EUR 181,101,890.74.
The project has been, both during the tender procedure and its implementation phase,
under the supervision of the Commission and the financing banks (ΕΙΒ, EBRD).
4. From 2012 to late May 2017, AKTOR implemented the project in accordance with the
contractual specifications, as attested by the certificates issued by the independent
supervising engineer of the French-Italian company-consortium EGIS-IRD, which the
project owner has appointed as supervisor. Ninety-six percent of the physical objective
of the project and 91.5% of the financial objective has been completed.
Kifissia, 8 June 2017

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