12/2016 Execution of Guarantee Agreement by the Company subsidiaries, a statement of submission to enforcement and the establishment of mortgages

Management Board of CPD S.A. (hereinafter the „Company”) would like to inform that on 6 December 2016 the subsidiary companies of the Issuer i.e. Gaston Investments spółka z ograniczoną odpowiedzialnością with its registered office in Warsaw and Challange Eighteen spółka z ograniczona odpowiedzialnością with its registered office in Warsaw entered into the Conditional Preliminary Agreement for the Sale of rights and obligations of the general partner and limited partner in the limited partnership 11/162 Gaston Investments spółka z ograniczoną odpowiedzialnością spółka komandytowa with its registered office in Warsaw. Conditional Preliminary Agreement obligates the parties to enter into the Final Agreement by 7 July 2017. On the basis of the aforementioned agreement, the subsidiaries of the Issuer i.e. 16/88 Gaston Investments spółka z ograniczoną odpowiedzialnością spółka komandytowa and 19/97 Gaston Investments spółka z ograniczoną odpowiedzialnością spółka komandytowa (hereinafter the “Guarantors”) entered into the Surety Agreement in the form of a notarial deed under which they granted surety in connection with the security for the claims of the Creditor concerning the repayment of the earnest money [zadatek], following from the Conditional Preliminary Agreement for the sale of rights and obligations of the general partner and limited partner in the limited partnership 11/162 Gaston Investments spółka z ograniczoną odpowiedzialnością spółka komandytowa with its registered office in Warsaw.

Obligation to return the earnest money shall be effected in the case where there is a delay in payment and costs in relation to vindication of any possible claims in this respect in the course of court or enforcement proceedings.
Moreover Guarantors submitted themselves to enforcement pursuant to art. 777 § 1 subpar. 5 of the Code of Civil Procedure as regards their obligation to pay the monies up to the amount of 12,000,000 zlotys.

Surety shall be valid until 30 June 2020.

At the date of signing of the Surety Agreement an application was submitted to the land and mortgage register court to enter the Mortgages over the Real Properties to the register, and the mortgage over the real property in perpetual usufruct of 19/97 Gaston Investments spółka z ograniczoną odpowiedzialnością spółka komandytowa shall be up to the mortgage sum of 8 000 000 zlotys, and the mortgage over the real property in perpetual usufruct of 16/88 Gaston Investments spółka z ograniczoną odpowiedzialnością spółka komandytowa shall be up to the mortgage sum of 4 000 000 zlotys, and the claim secured by the mortgage shall be the obligation of Guarantors following from the Surety Agreement to repay the earnest money.

Value of the object of security does not exceed 10% of the equity of the Company, pursuant to § 2 par. 1 of the Regulation of the Minister of Finance of 19 February 2009 on the current and periodic information provided by issuers of securities and terms of recognition as equivalent of information required by the provisions of law of the country which is not a member state.

There are no connections between the Company, its subsidiaries and managers or supervisors of the Company and the entity for the benefit of which the surety was established and its managers.

 

Signatures of persons representing the Company:

Elżbieta Donata Wiczkowska, President of the Board, 7th of December 2016

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