Conclusion of contract pertaining to the disposal of real property by the subsidiary company

The Management Board of Polimex-Mostostal S.A. with its registered office in Warsaw at ul. Czackiego 15/17 ("Company") informs of conclusion of contract on 10 December 2013 by the subsidiary company “Polimex Development” Kraków Sp. z o.o. as a seller and Molina Sp. z o.o. 2 S.K.A. as a buyer, the subject of which is the sale of premises located in Kraków at ul. Kliny Babiczna as well as the share in co-ownership in the non-residential premises for the total gross price of PLN 3,808,500 (“Promised Contract”).

Promised Contract was concluded as a result of fulfilment of the conditions (and waiving of one of them  by the buyer) provided for in the Conditional Sale Contract for establishing separate title for the residential premises and their sale as well as Conditional Sale Contract for the sale of share in co-ownership in the non-residential premises, of the conclusion of which the Company informed in current report no. 155/2013 of 1 November 2013.

According to the Promised Contract, the price was paid by the buyer to the escrow account of the seller, whereas the seller is obliged to release the subject of the Promised Contract to the buyer not later than on the day of its conclusion.

The conclusion of the Promised contract is an element of operational restructuring realisation, of which the Company informed in current report no. 130/2012 on conclusion with financial creditors of the Agreement on the principles of managing the financial debt of the Company and constitutes performance of the Company's liabilities resulting from the annex to the Agreement on managing the financial debt, of which the Company informed in detail in current report no. 150/2013 dated 25 October 2013.