In relation to Current Report No. 46/2021 of 13 August 2021, the Management Board of Develia S.A. (the “Issuer”) inform that today the Issuer has completed due diligence covering two property development projects which will be carried out under a joint-venture cooperation agreement aimed at implementing housing projects in Warsaw, which was entered into with Grupo Lar Holding Polonia sp. z o.o., based in Warsaw, (“Grupo Lar”) and CGLS sp. z o.o. sp.k., based in Warsaw, on 13 August 2021 (the “JV Agreement”).
Accordingly, the Issuer inform that the last condition precedent set out in the JV Agreement has been satisfied. The Issuer will give information regarding further transaction-related activities in subsequent current reports.
The information on the completion of the due diligence of two property development projects 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.