Contingent preliminary contract of sale of property of Apator S.A is changed
The Executive Board of Apator SA announces that the process of performance of contingent preliminary contract of sale of property located in Toruń at 21/29 Żółkiewski Street is going according to plan and Apator SA at the latest to the end of July 2012 will make the sale of the property. Information on the content of preliminary contract was presented on the 19th April 2011 in current report no. 14/2011. On the 1st June 2012 Apator SA and Galeria Copernicus Toruń 2 Sp. z o.o. (“Galeria”) signed some changes in the provisions of the contract however these changes do not have the significant influence on its essential content. Changes regard the following events:
From total price amount, the amount of 5 m PLN is being separated that will be retained on escrow account and paid to Apator SA after the final decision on alternative permission for construction passing from Apator SA towards „Galeria” Copernicus Toruń 2 sp. z o.o. is granted.
Apator SA undertakes to obtain the final decision on change of decision on permission for construction (so called alternative permission) based on documentation submitted by „Galeria”. Apator SA will obtain all the decisions for this purpose, opinions, conditions, agreements in the scope necessary to change the decision on permission for construction not later than the 15th August 2012. Moreover, Apator SA undertakes at the latest within 7 days when the alternative decision obtains final state in order to commence the proceeding to transfer alternative permission towards „Galeria”. In case when Apator SA does not commence this procedure within 14 days since the decision on alternative permission became final or it commenced the procedure but did not submit the statement on the consent to transfer this decision towards „Galeria” than it is obliged to make payment of stipulated penalty in amount of 5 m PLN.
Apator SA undertakes not to appeal any decisions or resolutions issued based on administrative proceeding regarding the transfer of the decision to „Galeria” and it
will not submit the motion to cancel, change or declare null and void. In case of violation of this obligation, Apator SA is obliged to pay to „Galeria” stipulated penalty of 5 m PLN. 4. The transfer of property to „Galeria” will take place within 7 days of the day of promised contract is concluded based on delivery and acceptance protocol. Moreover, both parties make statement that the conditions of below preliminary contract enabling to conclude the promised contract have been fulfilled: - change in local plan of spatial development binding for the property in the manner enabling the performance of investment of planned by „Galeria”;- to obtain the final decision on environmental constrains for the performance of investment planned by „Galeria”- to obtain the final decision confirming the civil project and giving permission for construction on property allowing to perform the investment planned by „Galeria”.- cancellation of mortgages on property Legal base: § 5 para 1 points 1 and 3 of the Regulation of Minister of Finance dated the 19th February 2009 regarding current and regular information being transferred by the issuers of securities and conditions to be considered as equivalent information required by law of the country not being the member of the EU.
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