Legal basis: Article 17. 1 MAR – inside information
The Management Board of LC Corp S.A. (“the Issuer” or “the Company”) informs that on 31 October 2018 the Company has agreed with international entities investing in commercial properties (the „Buyers”) the total sale price amounting to EUR 275 million as a result of a negotiation process regarding sale of four office buildings in Poland by the Company: Wola Center building, located in Warsaw at Przyokopowa street 33, Wola Retro building, located in Warsaw at Skierniewicka street 16/20 (under development), Retro Office House, located in Wrocław at intersection between Piłsudskiego street and Komandorska street, and Silesia Star, located in Katowice at Uniwersytecka street 18, initiated with execution of a letter of intent on 29 June 2018.
Within exclusivity granted to the Buyers, the parties continue negotiations in order to agree transaction documentation satisfactory to all parties, taking into account provisions of the letter of intent. The terms and conditions of the letter of intent, including conditions precedent, do not differ from the provisions generally applied to this type of agreements. The closing of the transaction is not assured and will take place if detailed provisions of the agreement are agreed, in particular the Company’s obligation that will have impact on the economic results of the transaction and may constitute grounds to make a decision on completion of the transaction.
The Company will inform in current reports on execution of next phases of the transaction.
According to the Issuer, information on determining of sale price constitutes inside information within the meaning of Article 7 of the MAR due to the fact that the potential transaction will be material to the Issuer, taking into account its value.