The Management Board of LC Corp S.A. (“the Issuer” or “the Company”) informs that on 17 July 2019 the Company – as the Purchaser – entered into an agreement in the form of a notarial deed under which the right of perpetual usufruct to developed real property of the area of 0.7228 ha, situated at Toruńska street in Warsaw, passed to the Company, together with other benefits set out in the agreement, for a price of PLN 17,100,000.00 net (say: seventeen million one hundred thousand and 00/100 Polish Zlotys), plus VAT at a rate of 23 per cent, i.e. an amount of PLN 21,033,000 gross (say: twenty-one million thirty-three thousand and 00/100 Polish Zlotys gross).
The Company intends to use the said real property for an investment project with approx. 180 residential premises. It is envisaged that sales for this investment project will commence in Q3 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.