The Management Board of DEVELIA S.A. (“the Issuer” or ”the Company“) inform that on 04 February 2022 an Issuer’s subsidiary, Arkady Wrocławskie S.A. (“AW”), in which the Issuer holds 100% of shares and 100% of votes at the subsidiary’s general meeting under voting rights attaching to such shares, has entered into a letter of intent with an international entity investing in commercial real property in relation to the disposal of the ownership right to land located in Wrocław at Powstańców Śl. Street, Swobodna Street, Komandorska Street and Nasypowa Street, on which, apart from other structures, a multifunctional building “Arkady Wrocławskie” has been erected (the “Real Properties”).
Upon signing the letter of intent, the Issuer, AW and the Purchaser entered into negotiations on the terms and conditions of sale of the Real Properties. The Parties set in the letter of intent a total estimate price of sale of the Real Property at PLN 210,000,000.00.
It is envisaged that a legal audit will be completed after 12 weeks and a preliminary sales agreement will be made after 17 weeks from the start of the examination, and the final agreement will be signed by 30 September 2022 at the latest. 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. The Management Board’s decision to publish inside information was taken in connection with a call to subscribe for the sale of the Company’s shares issued on 12 January 2022 by FORSETI IV S.A R.L., INVEST LINE E S.A. and BEKAP FIZ (the “Call”) with a view to providing shareholders with access to inside information which may have a considerable impact on their decision to subscribe for the sale of the Company’s shares, as proposed in the Call.
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 conjunction with 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.