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Conclusion of general contractor agreement for investment in Katowice at Roździeńskiego street by Issuer's subsidiary

Management Board of LC Corp S.A. ("The Issuer") informs that today (i.e.  23 July 2013) issuer's subsidiary – LC Corp Invest XII Sp. z o.o. with its registered office in Wrocław (hereinafter referred to as "Investor”), in which the Issuer holds 100% stake, concluded a general contractor agreement with entity unrelated to the Issuer - Budimex S.A. with its registered office in Warsaw („General Contractor") for construction of building A within the scope of first phase of the investment concerning the construction of multi-functional office-service complex with service-retail part, underground car park and open car park and parking spaces at 10 Roździeńskiego street in Katowice on following terms and conditions:

  1. Remuneration: in maximum amount of PLN 59,900,000.00 net (including variable part of remuneration for the performance of arrangement works in maximum level of PLN 16,700,324 net).
  2. Date of starting the works: next day following the handover of the building site documented in the handover report and the documentation enabling the General Contractor to start the performance of the works.
  3. Completion date of the works with obtaining the occupancy permit: next day following the end of 16 months from the date of starting the works.
  4. Security of the agreement: bank guarantee for due and timely performance of the agreement and for the removal of defects and faults during the warranty and statutory warranty period submitted by the General Contractor at the level corresponding to 10% of gross remuneration.
  5. The total level of liquidated damages envisaged in the agreement may not exceed 10% of the value of contractual remuneration, while the parties will be entitled to assert indemnity in excess of the liquidated damages.

Information on conclusion of aforementioned agreement in the opinion of the Issuer constitutes a confidential information as defined in art. 154 of the act dated 29 July 2005 on trade in financial instruments.