The Management Board of DEVELIA S.A. (“the Issuer” or “the Company”) inform that on 12/12/2019 the Company – as the Purchaser – entered into a sales agreement in the form of a notarial deed, under which the right of perpetual usufruct to real estate having the area of 0.4968 ha, situated at Jagiellońska street in Warsaw, together with other benefits set out in the agreement, was acquired from an entity which was not related to the Company for a price of PLN 21,200,000 (say: twenty-one million two hundred thousand Polish Zlotys) net plus VAT at a rate of 23 per cent, i.e. an amount of PLN 26,076,000 (twenty-six million seventy-six thousand Polish Zlotys) gross.
The Company intends to use the said real property for an investment project with approx. 150 residential premises. It is envisaged that sales for this investment project will commence in Q4 2020.
This report has been published due to the fact that the event in question is of relevance to the Company's business.
According to the Issuer, this Current Report constitutes inside information within the meaning of Article 7 of the MAR.
Legal basis: Article 17(1) in conjunction with Article 7(1a), (2), (3) and (4) 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”) in relation to Article 2 and 3 of the Commission Implementing Regulation (EU) 2016/1055 of 29 June 2016 laying down implementing technical standards with regard to the technical means for appropriate public disclosure of inside information and for delaying the public disclosure of inside information in accordance with Regulation (EU) No. 596/2014 of the European Parliament and of the Council.