Conclusion of a conditional contract of sale of real properties

The Management Board of Polimex-Mostostal S.A. having its registered office in Warsaw at ul. Jana Pawła II  12 (hereinafter referred to as the ‘Company’) hereby informs that on 30.09.2015 a conditional contract of sale of real property was entered into between the Company acting in the capacity of the Seller and Central and Eastern European Compliance Institute Spółka z ograniczoną odpowiedzialnością (limited liability company) having its registered office in Warsaw, acting in the capacity of the Buyer, the subject matter of which is an undeveloped land located in Jadwisin, gmina of Serock, Mazowieckie Voivodeship, with respect to which the District Court in Legionowo, IV Land and Mortgage Register Department maintains a land and mortgage register no. WA1L/00009169/8 (hereinafter referred to as the ‘Real Property) (hereinafter referred to as the ‘Conditional Contract’).

Pursuant to the Conditional Contract, total price for the Real Property shall amount to PLN 85,000.00 net, and it shall be increased with the due tax on goods and services at the applicable rate of 23% (hereinafter referred to as the ‘Price’).

Conclusion of a contract transferring the ownership of the Real Property (hereinafter referred to as the ‘Transfer Contract’) depends on fulfilment of a condition provided for in the Conditional Contract, i.e. obtainment of documents issued by all the mortgagees holding collaterals in the form of mortgage and expressing their consent to release all the mortgages and to delete the mortgages in the land and mortgage registers.

Moreover, the Parties stipulated that the Buyer shall have the right to denounce the Conditional Contract until 20 September 2015 inclusive if the condition is not fulfilled by 10 December 2015 (and the Buyer does not waive the obligation that the condition shall be fulfilled).

The signing of the Conditional Contract is an element of organisational restructuring of which the Company informed in current report no. 130/2012 regarding the Company and its financial creditors entering into an agreement regarding the principles of financial debt management, and performance of the obligations of the Company arising from the annex to the contract regarding the financial debt management of which the Company informed in detail in current report no. 150/2013 dated 25 October 2013.