EnglishManagement Board of CPD S.A. (hereinafter the “Company”) with regard to the current reports 22/2015 dated on 9 October 2015 concerning conclusion of the agreement for performance of construction works by the subsidiary company Smart City spółka z ograniczoną odpowiedzialnością spółka komandytowa (hereinafter “Smart City”)), would like to inform that on 21 March 2016 Smart City spółka z ograniczoną odpowiedzialnością spółka komandytowa signed with UNIBEP S.A. the annex to the agreement was made with for the performance of construction works as a general contractor (the “Annex”).
Under the terms of the Annex, Smart City commissioned UNIBEP S.A. implementation of the second stage of construction of a developer investment project under the name of URSA – Smart City at Hennela street in Warsaw – District of Ursus (the “Investment”).
The Investments includes four residential buildings with underground garage. In these buildings shall be constructed 357 apartments and 20 commercial premises will be located in the 7-storeys building.
Anticipated completion of development of this investment has been established as second quarter of 2017.
At the same time under the Annex was updated scope of work covering the performance of each stages in the work schedule for the first phase of investment and the current completion date for the implementation of this phase of investment has been set for the fourth quarter of 2016. In addition, due to changes in the scope of work under Annex updated value net remuneration for the execution of works for various work stages. The current remuneration for the implementation of the first stage of investment is 35.7 million zł and the remuneration for realization of the second stage was set as 31.9 million zł.
Other significant provisions of the Contract remain unchanged.
For the purposes of reporting the Company uses the criteria for determination of material agreements on the basis of §2 par. 1 subpar. 44 letter b) of the Regulation – i.e. 10% of the value of the sales revenue of the Issuer’s capital group for the period of the last 4 financial quarters. Agreement meets the above criteria of materiality.
Legal basis:
§ 5.1.3) in connection with § 9 of the Ordinance of the Minister of Finance of 19 February 2009 on current and periodic information passed by issuers of securities and on terms for consideration of information required under laws of states that are not Member States as equivalent.
Signatures of persons authorized to represent the Company:
Elżbieta Wiczkowska, President of the Management Board, 21 March, 2016