Entering into the agreement on the sale of the perpetual usufruct right to a land property by a subsidiary of TIM SA
24.04.2018
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Date |
2018-04-24 |
Current report no. |
11/2018 |
| The Management Board of TIM SA with its registered office in Wrocław _hereinafter referred to as: “Company”, announces that on April 23, 2018, 3LP SA with its registered office in Siechnice, in which TIM SA holds 100% of shares, entered with Stillden Investments spółka z o.o. with its registered office in Warsaw, Al. Jerozolimskie 56 C _hereinafter referred to as: “the Buyer”, into a conditional sale agreement, _hereinafter referred to as ” The Conditional Sale Agreement”_ regarding a part of a land property located in Siechnice, ul. Kwiatkowskiego 24, limited to the plot number 544/58 with an area of 22 246 m2, for which the District Court in Oława maintains a land and property register KW no. WR1O/00062692/3, which is used by 3LP SA as the perpetual usufructuary_hereinafter referred to as: “the Land Property” _. The selling price of the Land Property had been established by the Parties in the amount of PLN 2.447.060 _ in words: two million four hundred and forty-seven thousand and sixty _ PLN NET plus VAT at the rate applicable as of the date of the conclusion of the agreement transferring the perpetual usufruct right to the Land Property. The conditional sales agreement was made on the condition that the Mayor of Siechnice fails to exercise the pre-emption rights to the Land Property and on other conditions that are compliant with the applicable standards for this type of an agreement, such as submission of statements and documentation necessary to conclude the agreement transferring the perpetual usufruct right to the Land Property. At the same time, the TIM SA Management Board informs that along with the Conditional Agreement on Sale of the Land Property, the Parties entered into a tenancy agreement_ hereinafter referred to as: “Tenancy Agreement” _ between Stillden Investments spółka z o.o. with its registered office in Warsaw as a Landlord and TIM SA along with 3LP SA as Tenants jointly and severally responsible for the execution of the rights and obligations resulting from the Tenancy Agreement, under which the Tenants shall rent from the Landlord the production and storage building with an area of approx. 10 585 sq m, which will be built on the Land Property by the Landlord until August 9, 2031. The Tenancy Agreement was concluded on the condition that Stillden Investment spółka z o.o. with its registered office in Warsaw and 3LP SA with its registered office in Siechnice enter into the agreement transferring the perpetual usufruct right to the Land Property. The estimated monthly rent for the said building shall be the amount of EUR 32 938 net per month. The final rent will be determined on the basis of the actual investment costs related to the construction of the new production and storage building. Apart from the rent, the Tenants shall cover operational costs related to the property rented, as described in detail in the Rental Agreement. Under the Tenancy Agreement, the Tenants undertook to establish a security of timely payment of the rent and operational fees in the amount equivalent to the sum of 6-months rent and 6 monthly operating fees, effective during the term of the rental agreement and for 3 months after its expiry. The security may be established in the form of a bank guarantee or cash deposit in EUR currency. Under the Tenancy Agreement, the Parties agreed that the Tenants can, in their sole discretion, agree together on the way to exercise the rights and obligations of this Agreement. In accordance with the arrangements between TIM SA and 3LP SA, 3LP SA will perform logistics activities in the newly built production and storage building. 3LP will also bear all the costs related to the rental of the Property. The Management Board of TIM SA indicates that the above information are considered confidential within the meaning of the definition set out in Article 7 MAR due to the fact that its disclosure may have an impact on the future financial performance of the TIM Capital Group. |
SIGNATURES OF PERSONS REPRESENTING THE COMPANY
| 2018-04-24, Anna Slobodzian-Pula – Member of the Board 2018-04-24, Piotr Tokarczuk – Member of the Board |