The Management Board of LC Corp S.A. (“the Issuer” or “the Company”) informs that on 11 October 2018 the Company – as the Purchaser – entered into a sales agreement in the form of a notarial deed, under which it acquired from an entity which is not affiliated therewith ownership of and the right of perpetual usufruct to developed real property of the total area of 5.2 ha, situated at Centralna street in Cracow, for a price of PLN 48,000,000.00 (say: forty-eight million Polish Zlotys), inclusive of VAT.
The Company intends to use the said real property for an investment project with approx. 1,150 residential premises. It is envisaged that sales for this investment project will commence in Q2 2019.
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.