Loading...
Menu
PL
EN
PL
EN
10.12.2014
Current report no. 58/2014
Current report no. 58/2014

Agreements on ownership transfer of Issuer’s subsidiaries’ shares within Issuer’s Capital Group

The Management Board of Echo Investment S.A. (hereinafter referred to as the "Issuer") hereby reports that on the 9th of December 2014 the closed investment funds: Forum XXXIV Fundusz Inwestycyjny Zamknięty and Forum XXIX Fundusz Inwestycyjny Zamknięty with their registered offices in Kraków, entered in the register of investment funds kept by the District Court in Warsaw, the 7th Civil Registry Department, under the numbers: RFi 586 and RFi 536 (hereinafter referred to as the "Funds"), duly represented by FORUM Towarzystwo Funduszy Inwestycyjnych S.A. with its registered office in Kraków, and a subsidiary of the Issuer, BARCONSEL HOLDINGS LIMITED, established and operated in accordance with the Cypriot law, with its registered office at: 54, Digheni Akrita Av., Akritas Building, 3rd floor, Office 301, 1061 Nicosia, Cyprus, registered under the number HE227819, transferred the ownership of shares issued by the following Issuer"s subsidiaries to BARCONSEL HOLDINGS LIMITED in the Issuer"s Capital Group on the basis of datio in solutum agreements, in exchange for the receivables resulting from the redemption of investment certificates of a corresponding value: a) 24,999 (say: twenty four thousand nine hundred ninety nine) B-series registered shares of GALAXY – PROJEKT ECHO – 106 Spółka z ograniczoną odpowiedzialnością S.K.A. with its registered office in Szczecin, entered in the register of entrepreneurs of the National Court Register under the KRS number 0000440159, the total value of which on the day of Agreement conclusion amounts to PLN 26,547,787.00 (say: twenty six million five hundred forty seven thousand seven hundred eighty seven zloty 00/100); b) 74,150,000 (say: seventy four million one hundred fifty thousand ) B-series registered shares of „Galeria Sudecka Projekt Echo - 43 Spółka z ograniczoną odpowiedzialnością" S.K.A. with its registered office in Jelenia Góra, entered in the register of entrepreneurs of the National Court Register under the KRS number 0000380072, the total value of which on the day of Agreement conclusion amounts to PLN 98,770,316.00 (say: ninety eight million seven hundred seventy thousand three hundred sixteen zloty 00/100); c) 24,999 (say: twenty four thousand nine hundred ninety nine) B-series registered shares of PROJEKT ECHO PASAZ GRUNWALDZKI - MAGELLAN WEST Spółka z ograniczoną odpowiedzialnością" S.K.A. with its registered office in Kielce, entered in the register of entrepreneurs of the National Court Register under the KRS number 0000440165, the total value of which on the day of Agreement conclusion amounts to PLN 1,251,369.00 (say: one million two hundred fifty one thousand three hundred sixty nine zloty 00/100); d) 24,999 (say: twenty four thousand nine hundred ninety nine) B-series registered shares of PROJEKT ECHO GALERIA KIELCE - MAGELLAN WEST Spółka z ograniczoną odpowiedzialnością" S.K.A. with its registered office in Kielce, entered in the register of entrepreneurs of the National Court Register under the KRS number 0000440066, the total value of which on the day of Agreement conclusion amounts to PLN 13,828,968.00 (say: thirteen million eight hundred twenty eight thousand nine hundred sixty eight zloty 00/100); e) 9,619,950 (say: nine million six hundred nineteen thousand nine hundred fifty) B-series registered shares of "Oxygen - Projekt Echo - 95 Spółka z ograniczoną odpowiedzialnością" S.K.A. with its registered office in Kielce, entered in the register of entrepreneurs of the National Court Register under the KRS number 0000390494, the total value of which on the day of Agreement conclusion amounts to PLN 17.432.184,00 (say:  seventeen million four hundred thirty two thousand one hundred eighty four zloty 00/100);    f) 75,673,000 (say: seventy five million six hundred seventy three thousand) B-series registered shares of "Echo - Centrum Przemyśl - Projekt Echo - 93 Spółka z ograniczoną odpowiedzialnością" S.K.A. with its registered office in Kielce, entered in the register of entrepreneurs of the National Court Register under the KRS number 000036152, the total value of which on the day of Agreement conclusion amounts to PLN 15.148.030,00 (say: fifteen million one hundred forty eight thousand thirty zloty 00/100); g) 49,998 (say: forty nine thousand nine hundred ninety eight) B-series registered shares, 1,000,000 (say: one million) C-series registered shares and 950,000 (say: nine hundred fifty thousand) D-series registered shares of  "Projekt 3 - Grupa Echo Spółka z ograniczoną odpowiedzialnością" S.K.A. with its registered office in Kielce, entered in the register of entrepreneurs of the National Court Register under the KRS number 0000393284, the total value of which on the day of Agreement conclusion amounts to PLN 40,631,078.00 (say: forty million six hundred thirty one thousand seventy eight zloty 00/100); h) 49,998 (say: forty nine thousand nine hundred ninety eight) B-series registered shares, and 950,000 (say: nine hundred fifty thousand) C-series registered shares of  "Projekt 4 - Grupa Echo Spółka z ograniczoną odpowiedzialnością" S.K.A. with its registered office in Kielce, entered in the register of entrepreneurs of the National Court Register under the KRS number 000039286, the total value of which on the day of Agreement conclusion amounts to PLN 10,000.00 (say:  ten thousand zloty 00/100); i) 3,498,000 (say: three million four hundred ninety eight thousand) B-series registered shares of Galeria Nova - "Grupa Echo" Spółka z ograniczoną odpowiedzialnością S.K.A.. with its registered office in Kielce, entered in the register of entrepreneurs of the National Court Register under the KRS number 0000459422,, the total value of which on the day of Agreement conclusion amounts to PLN 10,000.00 (say: ten thousand zloty 00/100); j) 36,900,000 (say: thirty six million nine hundred thousand) B-series registered shares of Galeria Nova - "Grupa Echo" Spółka z ograniczoną odpowiedzialnością S.K.A.. with its registered office in Kielce, entered in the register of entrepreneurs of the National Court Register under the KRS number 0000459422, the total value of which on the day of Agreement conclusion amounts to PLN 44,240,889.00( (say: forty four million two hundred forty thousand eight hundred eighty nine zloty 00/100), hereinafter referred to as "Shares". The total value of the ownership of Shares transferred amounted to PLN 257,799 thousand (say: two hundred fifty seven million eight hundred ninety nine thousand zloty), of which the value of the Shares settled on the basis of the datio in solutum agreements in exchange for the receivables resulting from the redemption of investment certificates amounted to PLN 257,871 thousand and the remaining amount to be paid by BARCONSEL HOLDINGS LIMITED to the benefit of the Funds equalled app. PLN 71,000 thousand in cash. Moreover, BARCONSEL HOLDINGS LIMITED subscribed for investment certificates issued by the above-mentioned funds on the 9th of December 2014. As part of the subscriptions BARCONSEL HOLDINGS LIMITED acquired 3,594 D-series investment certificates of the Forum XXXIV Fundusz Inwestycyjny Zamknięty fund and 931 E-series certificates of the Forum XXIX Fundusz Inwestycyjny Zamknięty fund. Under an obligation to pay for the acquired certificates BARCONSEL HOLDINGS LIMITED transferred the ownership of the above-mentioned Shares (except for the shares marked with letters e), h) and i), at the total amount of PLN 240,418 thousand (say: two hundred forty million four hundred eighteen thousand zloty) to the Funds. Furthermore, under an obligation to pay for the acquired certificates issued by the Forum 60 Fundusz Inwestycyjny Zamknięty fund (please refer to current report no. 56/2014 of the 4th of December this year), BARCONSEL HOLDINGS LIMITED transferred the ownership of shares marked with letter e) amounting to PLN 17,432 thousand (seventeen million four hundred thirty two thousand zloty) to the above-mentioned Fund. The Issuer is a direct and indirect owner of all the investment certificates issued by the abovementioned Funds. The abovementioned transfer of assets within the Issuer"s Capital Group has a neutral influence on the economic situation of the Issuer and the entire Capital Group of the Issuer. The transfer of assets from the closed investment funds: Forum XXXIV Fundusz Inwestycyjny Zamknięty and Forum XXIX Fundusz Inwestycyjny Zamknięty to the Issuer"s subsidiary, BARCONSEL HOLDINGS LIMITED, and the subsequent transfer of the same assets by the same subsidiary of the Issuer to the Forum 60 Fundusz Inwestycyjny Zamknięty closed investment fund is aimed at organization and segmentation of assets held by the Issuer"s Capital Group, whereby the three closed investment funds will hold assets which are focused on three areas of Issuer"s operations: - Forum XXXIV Fundusz Inwestycyjny Zamknięty – shopping centre projects, finished and in operation; - Forum XXIX Fundusz Inwestycyjny Zamknięty – office projects finished and in operation; - Forum 60 Fundusz Inwestycyjny Zamknięty – financial assets and properties under preparation or under construction which will be transferred to the shopping centre fund or the office fund when the project construction phase finishes. In addition the fund including financial assets will finance the preparation and implementation of the next development projects to be carried out by the Issuer"s Capital Group. Legal basis: §5 (1.3) and §9 of the Regulation of the Minister of Finance (Journal of Laws no. 33 item 259) of the 19th of February 2009 concerning current and periodical information published by issuers of securities and terms of recognizing as equivalent information required by laws of a non-Member State.

This site uses cookies.
We use information collected via cookies to give you the best experience on our website. Cookies may also be used by our cooperating research companies and advertising agencies. If you agree to store information contained in cookies, click on the “x” at the upper right of this communication. If you disagree, you can change settings of cookies in web browser options.
I understand