The Management Board of LC Corp S.A. (the “Issuer”) hereby reports that on 29.06.2018 the Issuer and international entities investing in commercial properties executed a letter of intent regarding sale of four office assets in Poland, including Wola Center, located in Warsaw at Przyokopowa 33 St., Wola Retro, located in Warsaw at Skierniewicka 16/20 St. (under construction), Retro Office House, located in Wrocław at the crossing of Piłsudskiego and Komandorska St., and Silesia Star, located in Katowice at Uniwersytecka 18 St.
Upon signing of the letter of intent the Issuer and the buyer have commenced negotiations of the terms and conditions of the sale. Pursuant to the letter of intent, the parties determined the indicative total purchase price of EUR 280 million on a debt-free and cash-free basis that will be adjusted for, among other things, any due diligence findings.
Other terms of the letter of intent, including those referring to the conditions of completion of the transaction, do not differ from the provisions generally applied to this type of agreements.
In the opinion of the Issuer, the information regarding the conclusions of the letter of intent, constitutes an inside information as defined in article 7 of MAR, because the potential transaction will be a significant transaction to the Issuer due to its value