The Management Board of DEVELIA S.A. (the “Issuer” or the “Company”) inform that on 25/10/2021 an Issuer’s subsidiary CGL X spółka z ograniczoną odpowiedzialnością spółka komandytowa, based in Warsaw, in which the Issuer is, directly and indirectly through CGL X spółka z ograniczoną odpowiedzialnością, the majority partner (in pursuance of the joint-venture agreement of which the Issuer informed in the Current Report No. 58/2021 of 20/10/2021), entered into a sales agreement in the form of a notarial deed, under which it purchased from an entity which was not related to the Issuer a right of perpetual usufruct to real estate located at Lizbońska Street in Warsaw. The area of the land property disposed of as part of the transaction is 0.8748 ha. The price for the Real Property amounted to PLN 37,050,000.00 net, plus VAT at a rate of 23 per cent, i.e. an amount of PLN 45,571,500 gross.
The said real property is designated for an investment project which, according to estimates, will accommodate approx. 210 residential premises. It is envisaged that sales for this investment project will commence in Q2 2022.
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