Quotation
Stock Exchange reports
Legal basis: Article 17(1) of MAR - inside information
Due to the spread of SARS-CoV-2 virus and the number of people being sick with COVID-19, and consequently, following the introduction of a state of epidemic threat within the Republic of Poland on 20/03/2020, the Management Board of Develia S.A. (“the Issuer” or “the Company”) – being guided by the recommendation of the European Sales and Marketing Association (ESMA) of 12 March 2020 – inform that the expected consequences of the pandemic may have a significant and possibly adverse impact on both the Company’s and its Group’s current operations, including on future performance and the accomplishment of the Management Board’s objectives published in the Current Report No. 5/2020 of 22/01/2020, i.e. specifically on:
- Revenue to be generated by shopping centres, which stems from the fact that Develia’s subsidiaries are the owners of two retail and services centres in Wrocław: "Arkady Wrocławskie” and “Sky Tower”, having considered administrative restrictions on...
Legal basis: Article 17(1) of MAR - inside information
In conjunction with the publication of the 2019 consolidated annual report, which has been scheduled for 12 March 2020, the Management Board of Develia S.A., “the Issuer”, inform that:
I.
The Develia Group have recognised in the 2019 financial results amounts resulting from a substantial change in the EUR exchange rate and having a significant impact on the gross profit or loss within the period, i.e.:
- For 2019 cumulatively (a period from 01/01/2019 to 31/12/2019):
- A decrease in the fair value of investment property, the valuation of which is made in EUR and translated into PLN, in an amount of PLN 18,056,000. This amount will be disclosed in the consolidated statement of comprehensive income under “Profit/(Loss) on Investment Property”;
- A decrease in the measurement of loan liabilities resulting from loans taken out in EUR for the construction of investment property in an amount of PLN 12,320,000. This amount will be disclosed in the consolidated statement of comprehensive...
Legal basis: Article 17(1) of MAR – inside information
The Management Board of Develia S.A. (“the Issuer”) inform that on 5 March 2020, the Issuer and mBank S.A. concluded an amendment to the programme agreement of 2 October 2018 (“the Programme Agreement”) under which the Issuer set up a bond issue programme for its bonds up to the total amount (nominal value) of issued and outstanding bonds of PLN 400,000,000 (“the Issue Programme”).
The amendment to the Programme Agreement is designed to adapt both the Programme Agreement and documentation relating to the Issue Programme to amended provisions of law that apply to the issue of bonds.
Bonds issued under the amended Issue Programme (“the Bonds”) will be tendered for purchase pursuant to Article 33(1) or (2) of the Bonds Act of 15 January 2015.
On the date of issue, the Bonds will be (i) registered in in the securities depository maintained by Krajowy Depozyt Papierów Wartościowych S.A. (the Central Securities Depository of Poland, “the KDPW”) or (ii) recorded in...
read more...Legal basis: Article 70(1) of Act on Public Offering – acquisition or disposal of large block of shares
The Management Board of DEVELIA S.A. (“the Issuer” or “the Company”) inform that on 24/01/2018 it received, pursuant to Article 69(2)(1)(a) and Article 69(4) of the Act on Public Offering and Conditions for Introducing Financial Instruments into Organised Trading and on Public Companies (“the Act”), a notice from Aviva Powszechne Towarzystwo Emerytalne Aviva Santander S.A. (“Aviva OFE”) saying that following the acquisition of the Issuer’s shares on 25 February 2020, Aviva OFE, holding at the time of the previous notice 10.221% of total vote in the Company, have increased their total vote share in the Company by at least 2% of the total vote.
Before the settlement of the aforesaid transactions, as at 26 February 2020, Aviva OFE held 54,507,246 (fifty-four million five hundred seven thousand two hundred forty-six) shares of the Company, accounting for 12.18% of the Issuer’s share capital (issued shares) and carrying the rights to 54,507,246 (fifty-four million...
read more...Legal basis: Article 17(1) of MAR – inside information
The Management Board DEVELIA S.A. (“the Issuer”), inform that on 27/02/2020 the Company, acting as the Purchaser, entered into a sales agreement in the form of a notarial deed, under which the right of ownership to real estate located in Wrocław at Orawska street (“the Real Estate”) was purchased from an entity which was not related to the Issuer. The area of the land disposed of as part of the transaction is 2.4272 ha. The price for the Real Estate amounted to PLN 29,500,000.00 net, plus VAT at a rate of 23 per cent, i.e. an amount of PLN 36,285,000.00 gross.
The Company intends to use the Real Estate for an investment project with approx. 440 residential premises. It is envisaged that sales for this investment project will commence in Q3 2022.
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...
read more...Legal basis: Article 56(1)(2) of the Act on Public Offering – current and periodic information
With reference to Current Reports Nos. 42/2019 and 43/2019 of 28 November 2019 on delegating Mr Michał Hulbój, a Member of Supervisory Board of the Company, to act as the President of the Issuer’s Management Board for a three-month period, the Management Board of Develia S.A. (“the Company” or “the Issuer”) inform that on 26 February 2020, the Supervisory Board of the Company, acting pursuant to Article 383(1) of the Commercial Partnerships and Companies Code, passed a resolution under which they delegated Mr Michał Hulbój to act as the President of the Management Board of the Company for a period from 29 February 2020 to 29 May 2020.
Mr Michał Hulbój graduated from the Warsaw School of Economics (SGH), where he received a university degree in Finance and Banking. He holds a licence of securities broker and passed two CFA exams. As regards his professional experience, he participated in a training aimed at staff occupying managerial roles at Bank Millenium,...
read more...Legal basis: Other regulations
In relation to the provisions of Section 6.2.3 of the Bond Issue Terms and Conditions relating to LCC1910220Z2 series bonds issued on 19/10/2018, as communicated by the Issuer by way of Current Report No. 64/2018 of 19/10/2018 (“the No. 1 Bond Issue Terms and Conditions”) and having considered the provisions of Section 6.2.3 of the Bond Issue Terms and Conditions relating to LCC220523OZ3 series bonds issued on 22/05/2019, as communicated by the Issuer by way of Current Report No. 22/2019 of 22/05/2019 (“the No. 2 Bond Issue Terms and Conditions”), the Management Board of Develia S.A. (“the Company”) inform that on 29/01/2020, a subsidiary wholly owned by the Company: Warszawa Przyokopowa Spółka z ograniczoną odpowiedzialnością (“WP”), acting as the seller (hereinafter referred to as “the Seller”) and a company controlled by Hines European Value Fund SCSp, based in Luxembourg, i.e. Wola Center Spółka z ograniczoną odpowiedzialnością, acting as the...
read more...Legal basis: Legal basis: Article 17(1) of MAR - inside information
In relation to Current Report no. 50/2019 of 20/12/2019, the Management Board of Develia S.A. (“the Issuer” or “the Company”) inform that in view of the Gdańsk Municipality failing to exercise the pre-emption right it had under Article 109(1)(1) of the Real Estate Management Act of 21 August 1997, on 10 February 2020, the Company – as the Purchaser – entered into a purchase agreement in the form of a notarial deed, under which the right of ownership to land of an area of 0.0563 ha, located 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 Polish Zlotys and 00/100), 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 Polish Zlotys and 22/100).
The Company intends to use the said real estate and the real estate the purchase of which...
read more...Legal basis: Legal basis: Art. 56(1)(2) of the Act on Public Offering- current and periodic information
The Management Board of Develia S.A. (“the Issuer” or “the Company”) hereby make public the dates of releasing interim reports in 2020:
1. Separate annual report for 2019 – 12 March 2020.
2. Consolidated annual report for 2019 – 12 March 2020.
3. Consolidated quarterly report for Q1 2020 – 14 May 2020.
4. Consolidated semi-annual report for the 1st half of 2020 – 8 September 2020.
5. Consolidated quarterly report for Q3 2020 – 16 November 2020.
The Issuer further notifies of its decision to refrain from publishing the consolidated quarterly report for Q4 of 2019 and the consolidated quarterly report for Q2 of 2020 pursuant to Section 79(2) of the Regulation of the Minister of Finance of 29 March 2018 on Current and Periodic Information Published by Issuers of Securities and on Conditions for Regarding Information Required by Law of Non-Member State as Equivalent (“the Regulation”).
Further, according to Section 62(1) and (3) of the Regulation, the Issuer...
read more...Legal basis: Legal basis: Article 17(1) of MAR - inside information
With reference to Current Reports nos. 37/2019 of 24/09/2019 and 48/2019 of 18/12/2019, the Management Board of Develia S.A. (“the Company”) inform that on 29/01/2020, a subsidiary wholly owned by the Company: Warszawa Przyokopowa Spółka z ograniczoną odpowiedzialnością (“WP”), acting as the seller (hereinafter referred to as “the Seller”) and a company controlled by Hines European Value Fund SCSp, based in Luxembourg, i.e. Wola Center Spółka z ograniczoną odpowiedzialnością, acting as the purchaser (formerly under a business name Gisla Sp. z o.o.)(hereinafter referred to as “the Purchaser”, with the Seller and the Purchaser being hereinafter jointly referred to as “the Parties”), entered into a final sales and purchase agreement (“the FSPA”) under a transaction concluded between companies (“the Transaction”) and concerning the sale of the perpetual usufruct right to parcels of land located at 33 Przyokopowa Street in Warsaw, including the right...
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