The Management Board DEVELIA S.A. (“the Issuer”), inform that on 23/12/2019 the Company, acting as the Purchaser, entered into a sales agreement in the form of a notarial deed, under which the right of perpetual usufruct to real estate located in Warsaw at Podskarbińska street, together with the right of ownership to the building erected thereon (“the Real Estate”), was purchased from an entity which was not related to the Issuer. The area of the land property disposed of as part of the transaction is 7.6467 ha. The price for the Real Estate amounted to PLN 133,000,000.00 net, plus VAT at a rate of 23 per cent, i.e. an amount of PLN 163,590,000.00 gross. Taking into account the Issuer’s equity criteria, the sales agreement was considered to be of great significance.
The Company intends to use the Real Estate for an investment project with approx. 1,260 residential premises. It is envisaged that sales for this investment project will commence in Q1 2021.
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.