The Board of Poznańska Korporacja Budowlana Pekabex S.A. (The Issuer) hereby informs that today Pekabex Development Sp. z o.o., a wholly-owned subsidiary of the Issuer (formerly Innowa Bet Wytwórnia Konstrukcji Prefabrykowanej Sp. z o.o. („Pekabex Development”) has concluded with “Centrostal” Przedsiębiorstwo Wielobranżowe S.A. (“Centrostal”) a preliminary land sale contract located at 9 Jasielska Street in Poznan with a plot number of 14/4 with an area of 0.8468 ha for which the District Court for Poznań-Stare Miasto in Poznań, V Division of Land and Mortgage Registers keeps a book under the name PO1P / 00115614/0 (“Property”).
The parties agreed on the sale price of the Real Property for PLN 3,500,000 net, i.e. PLN 4,305,000 gross. Under the preliminary agreement, Pekabex Development has committed to pay Centrostal a deposit of PLN 435,000 and an advance payment of PLN 435,000 by September 28, 2017. The parties have agreed that the promised sale agreement will be concluded by 14 December 2017 at the latest.
The agreement was considered significant due to the fact that a real estate development project is planned for the purchased property consisting of the construction of up to 6 prefabricated housing buildings. The project will be a pilot and if successful it is planned to use prefabricated technology in residential construction on a larger scale, both in potential own projects where Pekabex would act as an investor and in co-operation with developers, where Pekabex would be a prefabricated construction contractor.