Entering into an agreement on the sale of a real estate by a subsidiary of TIM SA

Date

2018-09-28

Current report no.

40/2018

Agreement 1 is an agreement on sale of the perpetual usufruct right to a plot of land with an area of 0.98 ha and ownership rights of industrial and storage buildings located thereon, constituting a separate property, for a total net price of PLN 2.9 million net.

Agreement 2 is a preliminary conditional agreement on the sale of perpetual usufruct right to a plot of land with an area of 1.17 ha and ownership rights to industrial and storage buildings located thereon, constituting a separate property, for a total net price of PLN 6.5 million net. The final agreement will be concluded provided that the mortgage entered in the land and mortgage register of the said real property is deleted or the mortgage creditor presents a statement on the consent to delete the mortgage after repayment of the claim secured by it, by December 15, 2019.
The Buyer shall have the right to withdraw from Agreement 2 without the Seller’s right to make any claims until 30 April 2019. If the final agreement is not concluded on December 15, 2019 at the latest, any party may withdraw from Agreement 2 until March 15, 2020.

Other contractual terms and conditions do not differ from the market terms and conditions for this type of agreement.

The Management Board of TIM SA indicates that the above information has been considered confidential within the meaning of the definition set out in Article  MAR 7 due to the fact that the sale of the property referred to above will have an impact on the financial results of the TIM Capital Group.