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Current reports

Final sales contract of property concluded by Apator SA

Nr 37/2012
Date and time: 2012/07/05, 00:00
Category: Concluded contracts

Executive Board of Apator SA announces that on the 5th July 2012 Apator SA („Seller”) concluded final sales contract („Contract”) of perpetual usufruct of the land and buildings and structures being separate property located in Toruń at 21/29 Żółkiewski Street („Property”). The sales price of the Property is 36.072 000 PLN („Price”), including 2 m PLN due to the performance the road investment by the Seller on the area of the Property. The Contract was concluded with Galeria Copernicus Toruń 2 sp. z o. o. with headquarters in Warsaw („Buyer”).

The basis for conclusion of the Contract are provisions performed and specified in preliminary sales contract concluded the 18th April 2011 (current report no 14/2011 dated the 19th April 2011) with the annex dated the 1st June 2012 (current report 25/2012 dated the 1st June 2012 ), particularly: meeting all the conditions of preliminary contract.

For the Price, on the 21st April 2011 the Buyer made the down payment in amount of 7.000 000 PLN towards the Seller. Outstanding amount of 29.072 000 PLN was deposited on escrow account by the Buyer on the 22nd April 2011.
The schedule of payment from escrow account:
- 11.036 000 000 PLN – paid after the Contract is concluded and receipt protocol on transfer of the Property is received;
- 9.036 000 PLN – paid after the submission of the excerpts from land and mortgage register indicating the Buyer as the perpetual usufruct of the Property;
- 2.000 000 PLN – paid in parts (till the 31st October 2012) according to the schedule of demolition of the buildings and constructions on area of the Property;
- 5.000 000 PLN – paid after submission of final decision on transfer of amendment of the construction permit to the Buyer;
- 2.000 000 PLN – paid after submission of the receipt protocol confirming the performance of road investment on the area of the Property that is till the 28th February 2013.

On the 5th July 2012 the Property was transferred to the Buyer.

In case of any reasons the Buyer will not be indicated in land and mortgage registers as the perpetual usufruct of the land, the Seller will subject to enforcement to the amount of 36.072 000 PLN.

The above contract has been considered as significant one due to the exceeding the value of 10% equities of Apator SA.
Besides the preliminary sales contract and final sales contract of the Property, the entities of Grupa Apator did not conclude any contracts with Galeria Copernicus Toruń 2 sp. z o. o.

Moreover, there are no relationships between entities of Grupa Apator and its persons in executive and supervisory bodies and Galeria Copernicus Toruń 2 sp. z o. o. with headquarters in Warsaw and persons in its management bodies.

Legal basis: § 5 para 1 points 1 and 3 of the Regulation of Minister of Finance 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. 


Contact for institutional investors and analysts

cc group - Katarzyna Mucha

Mobile +48 697 613 712

Management and Promotions Director of Apator Group

Jolanta Dombrowska

Mobile +48 56 61 91 228


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