Orbis : Execution of an annex to the preliminary agreement for the sale of the title to perpetual usufruct of a part of real property located in Warsaw, at ul. Bitwy Warszawskiej 1920 r.

Current report no. 15/2015
May 22, 2015
Subject: Execution of an annex to the preliminary agreement for the sale of the title to perpetual usufruct of a part of real property located in Warsaw, at ul. Bitwy Warszawskiej
1920 r.
In reference to the current report no. 7/2014 dated January 24, 2014, concerning the execution, on January 24, 2014, of a preliminary sale agreement of the title to perpetual usufruct of a part of real property located in Warsaw, at ul. Bitwy Warszawskiej 1920 r. between "Orbis" S.A. (the "Seller") and Szczęśliwicka Spółka z ograniczoną odpowiedzialnością with its registered address in Warsaw belonging to the UNIBEP S.A. Group (the "Buyer") (the "Preliminary Agreement"), the Management Board of "Orbis" S.A. hereby informs that an annex to the Preliminary Agreement was executed on May 22, 2015, amending the content of the Agreement as regards the following aspects:
1) the date of executing the final sale agreement was extended until December 31, 2015;
2) In addition, "Orbis" S.A. committed to take steps aimed at purchasing an additional plot adjoining the sold property and thus increasing the value of the transaction. In the event of a successful purchase of the additional plot of land, the net sale price of the total real property (together with the additional plot of land) sold to the Buyer shall amount to PLN
25,000,000 (twenty five million), i.e. PLN 3,000,000 (three million) more than initially
envisaged in the Preliminary Agreement;
3) the sale price may be increased:
a) in the event if only the sold real property is covered under the sale agreement (without the additional plot of land), and the final decision containing the building permit envisages a development project with a total usable area of residential and commercial property being greater than 15 000 square meters;
b) in the event when also the additional plot of land is covered under the sale agreement executed by "Orbis" S.A., or if the Buyer acquires this plot of land on its own within 5 years from the date of executing the final agreement, and under the decision containing the building permit obtained by the Buyer, a development project with a total usable area of residential and commercial property being greater than 18 000 square meters could be developed on the total real property.
Legal Grounds: Article 56.1.1 of the Act of July 29, 2005, on Public Offering, Conditions Governing the Introduction of Financial Instruments to Organized Trading, and Public Companies (Official Journal "Dz.U." No 2013, item 1382 of 2009, as subsequently amended).

distributed by