Delay of Disclosure of Inside Information: Signing of Letter of Intent and Entering into Negotiations on Sale of Two Real Properties

Report number 11/2019

Legal basis: Article 17(1) of MAR - inside information

The Management Board of LC Corp S.A. (“the Issuer” or “the Company”) informs that on 6 February 2019 the Issuer entered into a letter of intent with an international entity investing in commercial real property in relation to the disposal of real property located in Poland, on which the following two office buildings were erected: (i) an office building called Retro Office House, located in Wrocław at the intersection of Piłsudski and Komandorska streets; and a suite of two “Silesia Star” office buildings located in Katowice at 18 Uniwersytecka Street.


Upon signing the letter of intent, the Issuer and the Purchaser entered into negotiations on the terms and conditions of sale. The LOI sets out a total estimate price of sale amounting to EUR 113 million, agreed by the Issuer and purchaser, which transaction is to be completed on a debt-free and cash-free basis and be subject to adjustments, among other things, based on arrangements made during a legal analysis.


The other terms and conditions of the letter of intent, including those relating to conditions under which the transaction will be effected, do not vary from provisions which are generally applicable to this type of documents.


According to the Issuer, this information constitutes inside information within the meaning of Article 7 of the MAR, as the transaction, if effected, will be considered by the Issuer a significant transaction on account of its value.