29/01/2013
Report no. 10/2013
A co-financing agreement for the creation of a Research and Development Centre at the Geriatric Hospital In Katowice
Pursuant to §5 (1) (3) of the Regulation of the Minister of Finances of 19 October 2005 on current and periodic information provided by issuers of securities, the Management Board of EMC Instytut Medyczny S.A. informs that on 28 January 2013 an agreement with the Ministry of Economy was signed by subsidiary company EMC Silesia sp. z o.o. ( the Beneficiary).
The Issuer informed about the events related to the investment project planned in its current reports nos. 2/2009 of 01.08.2009, 9/2012 of 01.25.2012, 15/2012 of 28.01.2012, 98/2012 of 12.09.2012 and 109/2012 of 15.11.2012.
The Project planned by the Issuer shall mainly involve the construction of a new forty-bed hospital ward as well as creating a Rehabilitation and Training Unit and a Research and Development Centre.
An investment project co-financing application was filed by the Management Board of EMC Silesia Sp. z o.o. on 27 January 2012 with respect to establishing a Research and Development Centre under the Innovative Economy Operational Programme implemented by the Ministry of Economy, sub-measure 4.5.2 "Support for investments in the modern service sector".
The subject of the Agreement is subsidising the project with regard to "Establishing an Orthopaedic Products and Services Research and Development Centre in Katowice". The total cost of the project is PLN 8,498,970.00. The co-financing will be allocated to the project costs in fixed assets and intangible fixed assets that are associated with the implementation of 40% of the investment project, which amounts to PLN 3,399,588.00.
The subject of the Agreement is subsidising the project with regard to "Establishing an Orthopaedic Products and Services Research and Development Centre in Katowice". The total cost of the project is PLN 8,498,970.00. The co-financing will be allocated to the project costs in fixed assets and intangible fixed assets that are associated with the implementation of 40% of the investment project, which amounts to PLN 3,399,588.00.
In order to be considered eligible, expenditure must be actually incurred by the Beneficiary in connection with the implementation the Project pursuant to the provisions of the Agreement, the catalogue and the amount of eligible expenses as well as the principles of sound financial management. The eligibility period of costs starts on 1 July 2012 and ends on 31 December 2013. The Beneficiary is required to complete the Project, resulting from the funding application, during the eligibility period.
The Beneficiary is obliged to achieve the objectives and indicators as specified in the co-financing application and the Agreement, to ensure the sustainability of Project results and to maintain the investment project within the region, for a period of 5 years starting from the date of the completion of the project, however it shall not be deemed inconsistent with the requirements necessary to maintain the investment project to replace the machinery or equipment which, in view of the rapid technological advances, will have become obsolete by this time.