The Management Board of CPD SA ('Issuer') informs that subsidiaries of Issuer 2/124 Gaston Investments spółka z ograniczoną odpowiedzialnością sp. k. with its registered office in Warsaw and 3/93 Gaston Investments spółka z ograniczoną odpowiedzialnością sp. k. with its registered office in Warsaw (the 'Sellers'), 15th of November of 2018 concluded a preliminary agreement for sale of the perpetual usufruct of right to the properties consisting of plot no. 124/2, zone no. 2-09-09 with an area of 10,726 m2, and plot no. 93/3, zone no. 2-09-09 with an area of 25,830 m2 located in Warsaw, Ursus District ('Agreement') to NEWTOWNS spółka z ograniczoną odpowiedzialnością ('Purchaser').

According to the provisions of the Local Master Plan, the real estate is in majority intended for services and multi-family housing.

The selling price of perpetual usufruct rights has been set at PLN 70,669,350 ('Price').

The Purchaser paid an advance payment of 10% of the Price. In order to secure the advance payment by the Sellers, on the Seller's perpetual usufruct rights, the mortgage was established up to the amount of the advance payment which shall be increased with eventual interests and execution costs and voluntarily submit itself to enforcement pursuant to article 777 of the Code of Civil Proceedings for its obligation to return the advance payment which shall be increased with eventual interests and execution costs.

The remaining provisions of the Agreements concluded by the Seller do not differ from the standards commonly applicable to this type of contracts.

Legal basis:

Article 17.1 MAR - Inside information

Signatures of persons representing the Issuer:

Elżbieta Wiczkowska, President of the Board, 15 November 2018

Attachments

  • Original document
  • Permalink

Disclaimer

CPD SA published this content on 15 November 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 15 November 2018 21:43:01 UTC