5/2015 UOKiK Decision

The Management Board of CPD SA (The “Company”) announces that on 24 of February 2015 it received DKK-Decision No 31/2015, issued February 17, 2015 by the President of the Office of Competition and Consumer Protection. After the antitrust proceedings initiated upon Challange Eighteen with its registered office in Warsaw (the “Subsidiary”), Smart City with its registered office in Warsaw and Unidevelopment SA with its registered office in Warsaw, the President of the Office of Competition and Consumer Protection approved for concentration, granted permission for establishment of a joint venture Smart City in organization limited partnership with its registered office in Warsaw by the Subsidiary, Smart City with its registered office in Warsaw and Unidevelopment SA with its registered office in Warsaw.

Obtaining such consent is the fulfillment of the last condition precedent of Investment Agreement dated September 10, 2014, in accordance with the provisions of Current Report 23/2014 dated September 11, 2014. The Agreement provides a joint project to be completed on the part of the property (the “Property”) owned by Group CPD SA ie. Smart City with its registered office in Warsaw. This property consists of plot no 95, no rev. Reg. No. 2-09-09, with an area of 3.6811 ha and is located at Traktorzystów Street in Warsaw (Warsaw district – Ursus).

The fulfillment of the last condition is extremely important as it represents the start of construction and revitalization process of one of the largest investment areas in Warsaw, with a potential of more than 700 thousand sq. m of usable space owned by the Group CPD SA. On the aforementioned property first phase of revitalization, covering approximately 20,000 m2 of usable area is implemented. The project, which consists of a complex of residential buildings with services and associated infrastructure is implemented jointly with Unibep SA, which is the general contractor and the company Unidevelopment SA as a investors representative. The project is carried out in two stages. The agreement also provides marketing activities in sale of apartments, and then on the total sales of usable space.

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