Collaboration with Grupo Lar Holding Polonia sp. z o.o. Commenced Under Joint-Venture Cooperation Agreement
Legal basis: Article 17(1) of MAR - inside information
The Management Board of Develia S.A. (the "Issuer”), with reference to (i) Current Report No. 46/2021 of 13 August 2021 relating to the execution of the joint-venture cooperation agreement by the Issuer, (ii) Current Report No. 54/2021 of 23 September 2021 relating to the UOKiK (the Polish Office of Competition and Consumer Protection) President’s Decision to Consent to Concentration, and (iii) Current Report No. 57/2021 of 20 October 2021 relating to the completion of due diligence covering two property development projects, inform that today a transaction has been closed, under which the Issuer joined three investment partnerships (and accordingly three private limited liability companies [spółka z ograniczoną odpowiedzialnością] being the limited partners in such partnerships), which as the owners of rights and obligations arising from property development projects, will carry on operations aimed at building housing estates in Warsaw.
Further collaboration between the Issuer and Grupo Lar Holding Polonia sp. z o.o., based in Warsaw, (“Grupo Lar”) on the implementation of housing projects in Warsaw will be subject to terms and conditions set out in the joint-venture cooperation agreement entered into, which was communicated by the Issuer in Current Report No. 46/2021 of 13 August 2021.
The information on the commencement of collaboration with Grupo Lar pursuant to the joint-venture cooperation agreement is, according to the Issuer, 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.