Closing and discontinuing negotiations concerning real estate sale
Legal basis: Art. 17 par. 1 of MAR - confidential information
The Management Board of Develia S.A., (the “Issuer” or “Company”) with reference to current report no. 6/2022 of 28.01.2022, hereby informs that on 17.08.2022 – due to the changing market and economic situation and prolonged negotiations resulting from a material change in the terms of offer compared to those agreed in the signed LOI – a decision was made to discontinue and close the negotiations concerning the terms and conditions of sale of the right of perpetual usufruct of land situated in Warsaw at Podskarbińska Street and Żupnicza Street, with a total area of 10,518.00 sqm (the “Real Estate”) including the investment carried out within the Real Estate, that is, construction of two residential buildings with a shared underground and overground car park and necessary infrastructure, that the Issuer has conducted with a European real estate market investor. The above-mentioned project was simultaneously intended for retail sale by the Company.
The basis for submission of this report is the relevance of the event to the Issuer’s business.
In the opinion of the Management Board of the Issuer, this current report is confidential information within the meaning of Article 7 of MAR.
Legal basis: Article 17 paragraph 1 of Regulation of the European Parliament and of the Council (EU) No. 596/2014 of 16 April 2014 on market abuse (Market Abuse Regulation) and 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 (“MAR”).
