2020 Current Reports EN

32/2020 Implementation of the second stage of the project Ursa Sky

Management Board of CPD S.A. informs that on 10 December 2020, the general contractor ie. Unibep SA, was delivered with the order to start the second stage of the project Ursa Sky, located on the land surveying plot No. 113/8, between the streets: Silnikowa, Herbu Oksza and Quo Vadis in Warsaw.

The second stage of the investment is a joint construction project consisting in the implementation of a multi-family building with accompanying services and infrastructure, i.e. with an underground garage and land development.

The 8-storey building under construction will contain a total of 201 apartments, 3 commercial premises and 201 parking spaces.

 

Signatures of persons representing the Company:

Elżbieta Wiczkowska, Member of the Board, 10 December 2020

Iwona Makarewicz, Member of the Board, 10 December 2020

31/2020 Income tax refund to a subsidiary

Management Board of CPD S.A. (“Company”) informs that in connection with the decision regarding the subsidiary company CPD S.A. – Challange Eighteen sp. z o.o. (“Subsidiary”) issued on 6 November 2020 by the Head of the Customs and Tax Office in Krakow, about which the Company informed on 25 November 2020 in the current report No. 30/2020, and which concerned the discontinuation of the proceedings on the determination of the amount of debt due to unpaid flat-rate tax income from legal persons on interest paid to East Europe Property Financing AB with its registered office in Sweden in May 2012 in the amount of PLN 9,112,648, and on the tax liability of Challange Eighteen Sp. z o.o. as a payer of the flat-rate corporate income tax on the above-mentioned amount of uncollected flat-rate corporate income tax, on 26 November 2020 the subsidiary received from the Second Masovian Tax Office in Warsaw an income tax refund for May 2012 in the amount of PLN 16,300,773. The amount consists of the main amount of PLN 9,112,648, interest in the amount of PLN 6,513,421 paid by the Company in May 2020 and interest due in the amount of PLN 674,704.

 

Signatures of persons representing the Company:

Elżbieta Wiczkowska, Member of the Board, 27 November 2020

Iwona Makarewicz, Member of the Board, 27 November 2020

30/2020 Decision in tax proceedings against a subsidiary

Management Board of CPD S.A. (“Company”) informs that on 25 November 2020 it was informed about the decision regarding the subsidiary company CPD S.A. – Challange Eighteen sp. z o.o. issued on 6 November 2020 by the Head of the Customs and Tax Office in Krakow.

This decision overruled the decision of the first instance authority in its entirety and discontinued the proceedings in the case determining the amount of debt due to unpaid flat-rate corporate income tax on interest paid to East Europe Property Financing AB with its registered office in the territory of Sweden in May 2012. in the amount of PLN 9,112,648 and adjudicating on the tax liability of Challange Eighteen Sp. z o.o. as a payer of the flat-rate corporate income tax for the above-specified amount of the non-collected flat-rate corporate income tax.

The decision is justified by the statute of limitations on the tax liability specified in the decision of the first instance authority issued on 18 June 2020, which took place on 4 July 2020.

The decision is final.

Therefore, the subsidiary Challange Eighteen Sp. z o.o. in the near future, it should receive a tax and interest refund in the amount of PLN 15,626,069 that consists of the main amount of PLN 9,112,648 and interest in the amount of PLN 6 513 421 This amount has not yet been refunded to the company.

 

Signatures of persons representing the Company:

Elżbieta Wiczkowska, Member of the Board, 25 November, 2020

Iwona Makarewicz, Member of the Board, 25 November, 2020

29/2020 Appointment of the auditor for the years 2020-2022

The Management Board CPD S.A. (hereinafter the Company) announces that the Supervisory Board of the Company, after reading recommendation of Audit Committee, adopted the resolution on the reappointment of Grant Thornton Polska spółka z ograniczoną odpowiedzialnością sp. k. z. with its registered office in Poznań, located at 88 E Abpa Antoniego Baraniaka Street, entered the list of entities authorized to audit financial statements under number 4055, on the auditor authorized to:

  • to audit the standalone financial statements of CPD S.A. for the period from 1 January 2020 to 31 December 2020,
  • to audit the consolidated financial statements of the CPD Group for the period from 1 January 2020 to 31 December 2020,
  • to review the standalone financial statements of CPD S.A. for the period from 1 January 2020 to 30 June 2020,
  • to review the interim consolidated financial statements of the CPD Group for the period from 1 January 2020 to 30 June 2020,

and

  • to audit the standalone financial statements of CPD S.A. for the period from 1 January 2021 to 31 December 2021,
  • to audit the consolidated financial statements of the CPD Group for the period from 1 January 2021 to 31 December 2021,
  • to review the standalone financial statements of CPD S.A. for the period from 1 January 2021 to 30 June 2021,
  • to review the interim consolidated financial statements of the CPD Group for the period from 1 January 2021 to 30 June 2021.

and

  • to audit the standalone financial statements of CPD S.A. for the period from 1 January 2022 to 31 December 2022,
  • to audit the consolidated financial statements of the CPD Group for the period from 1 January 2022 to 31 December 2022,
  • to review the standalone financial statements of CPD S.A. for the period from 1 January 2022 to 30 June 2022,
  • to review the interim consolidated financial statements of the CPD Group for the period from 1 January 2022 to 30 June 2022.

The agreement with Grant Thornton Polska spółka z ograniczoną odpowiedzialnością sp. k. z will be concluded for the period necessary to carry out the work set forth herein.

The Company had previously engaged Grant Thornton Polska spółka z ograniczoną odpowiedzialnością sp. k. to audit and review its financial statements for 2018 and 2019.

 

Legal basis:

Article 17.1 MAR – Inside information

 

Signatures of persons representing the Company:

Elżbieta Wiczkowska, Member of the Board, 15 September, 2020

Iwona Makarewicz, Member of the Board, 15 September, 2020

28/2020 Conclusion of general construction agreement

Management Board of CPD S.A. informs that on 2 September 2020, subsidiary of the Issuer i.e. Ursa Sky Smart City spolka z ograniczona odpowiedzialnoscia sp.k. as the Ordering Party, concluded a general construction contract with Unibep S.A. in the role of the Contractor. The contract will be carried out in the general contracting system under the project called Ursa Sky, located on the land surveying plot No. 113/8, between the streets: Silnikowa, Herbu Oksza and Quo Vadis in Warsaw.

The investment is a joint construction project which is the implementation of a complex of multi-family buildings with services and accompanying infrastructure, i.e. a housing estate including the construction of 2 residential buildings with an underground garage and land development.

The works will be performed in two stages. The 8-storey buildings under construction will include a total of 384 apartments, 12 commercial premises and 376 parking spaces.
The commencement date of the 1st stage is planned for the 3rd quarter of 2020 and the completion for the 4th quarter of 2021. The commencement date of the 2nd stage is planned for the 1st quarter of 2021 and the completion for the 3rd quarter of 2022.

The net remuneration for the 1st stage is PLN 47,3. The remuneration for the implementation of the second stage was set at PLN 46,9 net.

In the event of withdrawal from the Agreement due to the fault of the Ordering Party, the Agreement provides Contractor possibility of charging a contractual penalty in the amount of 10% of the net remuneration for the performance of a given stage. The reservation of contractual penalties does not deprive the Contractor of the possibility to claim damages in excess of the value of the contractual penalty on general terms.

In the event of withdrawal from the Agreement due to the Contractor’s fault, the Agreement provides Ordering Party possibility of charging a contractual penalty in the amount of 10% of the net remuneration for the performance of a given stage. The reservation of contractual penalties does not deprive the Ordering Party of the possibility to claim damages in excess of the value of the contractual penalty on general terms.

The remaining contractual provisions do not differ from the terms commonly used for this type of agreement.

 

Legal basis:
Article 17.1 MAR – Inside information

 

Signatures of the persons entitled to representation:
Elżbieta Wiczkowska, Member of the Board, 2 September 2020
Iwona Makarewicz, Member of the Board, 2 September 2020

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CPD S.A.
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