Consent to the conclusion of a preliminary agreement for the sale of the property
With reference to current reports no. 60/2019, 12/2020 and 26/2020 concerning the process of sale of real estate of subsidiary Apator Powogaz SA ("Company") the Executive Board of Apator SA ("Issuer") announces that due to the agreement of the parties to negotiations on the conditions of potential transaction, the General Meeting of Shareholders of the Company adopted on 23rd July 2020 the resolution giving the consent to conclude the preliminary contract of sale of real estate ("Preliminary Contract") with the entity from developer industry ("Buyer").
The Issuer will inform about the conclusion of the Preliminary Agreement in a separate current report.
The subject of the contract is the land property located in the centre of Poznań at ul. Klemensa Janickiego 23/25 with the total area of 3.3 ha where the seat of Apator Powogaz SA is located.
The Parties have negotiated the following terms of the Preliminary Agreement:
net sales price at the level of PLN 63.5 million,
The conclusion of the agreement transferring the ownership shall take place upon fulfilment of the conditions stipulated in the Preliminary Agreement, but not later than 20 December 2020,
as of the date of conclusion of the agreement transferring the ownership, the Buyer will lease the property to the Company for the purposes of its current operations until 28.02.2022 with a possibility of extending the lease period,
the real estate will be released on the day of termination of the lease agreement referred to above.
The price will be paid in the following instalments:
a) PLN 9 million net - up to 10 days from the conclusion of the preliminary agreement as a deposit,
b) PLN 21 million net and 100% VAT calculated on the price of the property on the day of conclusion of the agreement transferring the ownership of the property,
c) PLN 12 million net within 5 working days from the date of obtaining by the Buyer the final building permit for the first stage of the investment planned on the property, but not later than 31 May 2021,
d) PLN 21.5 million on the date of termination of the lease agreement and release of the property to the Buyer.
The Executive Board of Apator SA announces that the estimated impact of transaction on net result of the Capital Group will be PLN 27 million.
At the same time the Issuer announces that Apator Powogaz SA will look for the ground for construction of new modern highly automated manufacturing plant where the manufacturing capacity will be definitely increased.
Article 17(1) of the MAR Regulation
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