A Conditional Sale and Purchase Agreement for a Real Property Located at Kolejowa Street in Wrocław
With reference to Current Report No. 55/2024 of 20 August 2024, the Management Board of Develia S.A. (the “Issuer” or the “Company”) inform that on 05 November 2024 the Issuer’s subsidiary, Develia Invest sp. z o.o. (the “Seller”), in which the Issuer holds 100% of shares, and an entity which is not related to the Issuer, AFI Europe’s subsidiary, AFI Project 10 spółka z ograniczoną odpowiedzialnością, based in Kraków (the “Purchaser”), entered into a conditional sale and purchase agreement (the “Conditional Agreement”) concerning the sale by the Seller of the perpetual usufruct right to an undeveloped real property comprised of a plot no. 21/3, precinct 0001, Stare Miasto, having an area of 0.5428 ha, located in Wrocław at 8 and 10 Kolejowa Street (the “Real Property”).
The selling price has been fixed for PLN 50,500,000.00, plus VAT amount due (the “Price”).
The Final Agreement (the “Final Agreement”) should be concluded by 31 December 2024, if the Wrocław Commune does not exercise its pre-emption right.
The Conditional Agreement contains provisions on the Seller’s and Issuer’s representations and covenants and rules for the Parties’ liability and risk security, which are standard for this type of transactions.
This report has been published due to the fact that the event in question is of relevance to the Issuer’s business, being part of the strategy unveiled in Current Report No. 25/2024 on 16 April 2024 to complete disinvestment for the assets in the commercial segment, including the real property in Wrocław at Kolejowa Street.
According to the Issuer, this Current Report constitutes inside information within the meaning of Article 7 of the MAR.
Legal basis: Article 17(1) of the Regulation of the European Parliament and of the Council (EU) No. 596/2014 of 16 April 2014 on market abuse (the Market Abuse Regulation) repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (the “MAR”).
