The Management Board of DEVELIA S.A. (“the Issuer” or “the Company”) inform that on 20 December 2019 the Company – as the Purchaser – entered into a sales agreement in the form of a notarial deed, under which the right of ownership to land of the area of 0.5339 ha, situated at Letnicka street in Gdańsk, together with other benefits set out in the agreement, was purchased from an entity which was not related to the Company for a price of PLN 9,046,086.00 (say: nine million forty-six thousand eighty-six Polish Zlotys) net plus VAT at a rate of 23 per cent, i.e. an amount of PLN 11,126,685.78 (eleven million one hundred twenty-six thousand six hundred eighty-five and 78/100 Polish Zlotys) gross.
The Issuer further inform that on 20 December 2019 the Company, acting as the Purchaser, entered into a conditional sales agreement in the form of a notarial deed, under which the right of ownership to land of the area of 0.0839 ha, situated at Letnicka street in Gdańsk, together with other benefits set out in the agreement, was purchased for a price of PLN 953,914.00 net (say: nine hundred fifty-three thousand nine hundred fourteen 00/100 Polish Zlotys) plus VAT at a rate of 23 per cent, i.e. an amount of PLN 1,173,314.22 gross (one million one hundred seventy-three thousand three hundred fourteen and 22/100 Polish Zlotys), which agreement is, however, conditional on the Gdańsk Municipality failing to exercise the pre-emption right it has under Article 109(1)(1) of the Real Estate Management Act of 21 August 1997.
The agreement under which the ownership of the aforesaid real estate is to be transferred will be executed by the Parties not later than within 14 days from a time limit for making a statement on the exercise of pre-emption right referred to in Article 110(2) of the Real Estate Management Act of 21 August 1997.
The Company intends to use the said real estate for an investment project with approx. 160 residential premises.
This report has been published due to the fact that the event in question is of relevance to the Company's business.
According to the Issuer, this Current Report constitutes 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.