Subject:
Conclusion of agreement for the acquisition of property situated in Lublin
Legal basis:
Article 56 clause 1 point 2 of the Act on Public Offering – Current and Interim Information
Contents of the report:
The Management Board of POL - MOT Warfama SA announces that on 14 October 2010 between the Issuer and the trustee in bankruptcy of the Company DAEWOO MOTOR POLAND - Ltd., based in Lublin, ul. 7-9 Mełgiewska, 20-952 Lublin, KRS 0000037343 was concluded sale agreement on the basis of which the Issuer has acquired at the cost of aggregate price of PLN 6.537.210,67.
1. the perpetual usufruct to 5 December 2089 of the land No 1 / 24, with an area of 4.0331 hectares, together with the ownership of buildings and structures, which are separate property - covered by a land register KW LU1I/00180343/9 conducted by the District Court in Lublin X Division Land Registry,
2. the perpetual usufruct to 5 December 2089 of the land No 1 / 7, with an area of 0.0058 hectares and the land No 1 / 11, with an area of 0.0551 hectares, along with property rights to buildings located on the above land, which are separate property - covered by a land register No LU1I/00111618/4 conducted by the District Court in Lublin X Division Land Registry. Ground No 1 / 7 and 1 / 11 make up a built up area No 1 / 24. The abovementioned properties are located in Lublin, ul. Mełgiewska 7-9.
The Issuer paid the whole price of the above property from its own resources and the investment loan (current report no 21/2010 and 22/2010 of 12 October 2010). The acquired property is located in the contiguity of the Issuer land at. Mełgiewskiej 7-9 in Lublin. Property are located at the main exit road from Lublin, among others towards the airport in Swidnik. Some of the property previously acquired by the Issuer with R & D center and production of machinery and equipment were leased till now.
Acquired property will constitute the Company's branch office in Lublin. In the new location the Issuer will produce among others: trailers, vacuum trucks, agricultural tractors and cars Grand Tiger. There will be also extended the research and development division, which main task will be to develop construction documentation of new products, prototyping and testing. Between the Issuer and the persons managing or supervising the Issuer and the seller's assets and their management people and the person to whom the mortgage down, there are no connections.
On the acquired properties Issuer has taken out an ordinary and maximum real estate mortgage to secure an investment loan obtained under a contract with Kredyt Bank SA concluded on 12 October 2010.
Other terms and conditions do not deviate from the standard generally accepted for this type of sale contract agreements. The agreement was considered significant because of the value of the contract, which exceeds 10% of the equity of the Issuer.
Legal basis § 5 clause 1 point 1 and 3 in connection with § 7 and § 9 of the Regulation of the Minister of Finance dated 19 February 2009 on current and interim information submitted by issuers of securities and the terms governing recognition of information required by the laws of a non-member state as equivalent information (Polish Journal of Laws from 2009, No. 33, item 259, later amended).
