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Acquisition of Real Property by Issuer


The Management Board of LC Corp S.A. (“the Issuer” or “the Company”) informs that on 14 March 2019 the Company – as the Purchaser – entered into a sales agreement in the form of a notarial deed, under which the right of ownership to real property of the area of 0.1413 ha, situated at Reja street in Wrocław, was purchased from an entity which was not related to the Company for a price of PLN 7,225,000.00 net (say: seven million two hundred twenty-five thousand and 00/100 Polish Zlotys), plus VAT at a rate of 23 per cent, i.e. an amount of PLN 8,886,750.00 gross (say: eight million eight hundred eighty-six thousand seven hundred and fifty Polish Zlotys).

 

The Company intends to use the said real property for an investment project with approx. 57 residential and 4 retail premises. It is envisaged that sales for this investment project will commence in Q1 2020.

 

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.