Disposal of the perpetual usufruct right of real property by a subsidiary of TIM SA
Current report no.
|Management Board of TIM S.A. with its registered office in Wrocław _ “Issuer” _, referring to current report No. 40/2018 of 28 September 2018, notifies about the conclusion on 29 October 2019 by a subsidiary of the Issuer – 3LP S.A. with its registered office in Siechnice _ “Seller” _ with the company PRW sp.z o.o. with its registered office in Wrocław _ “Buyer” _, of a final agreement for the disposal of the perpetual usufruct right of a land property with the surface area of 1.17 ha located in Wrocław at ul. Stargardzka 8a and the ownership right to industrial and warehouse buildings erected thereon constituting a separate real property, for the total net price of PLN 6.5 million.
The company PRW sp. z o.o. assumed the rights and obligations of the company IPD Południe sp.z o.o., resulting from the preliminary conditional sales agreement of the above real property concluded on 28 September 2018.
Conclusion of the final agreement was effected as a result of fulfilment of the condition precedent contained in the preliminary conditional sales agreement of the perpetual usufruct right of real property, the conclusion of which has been notified by the Issuer in current report No. 40/2018, consisting in the presentation of the declaration of the mortgage creditor on the consent to strike the mortgage entered in the land and mortgage register maintained for the above property.
Management Board of TIM SA points that it has decided that the above information is confidential within the meaning of the definition contained in Art. 7 MAR due to the fact that the disposal of the real property, referred to above, shall affect financial results of TIM Capital Group.
SIGNATURES OF PERSONS REPRESENTING THE COMPANY
|2019-10-29, Krzysztof Folta – President of the Management Board
2019-10-29, Piotr Nosal – Member of the Management Board