Globe Trade Centre S.A. (the “Company”) obtained information that the President of the Capital City of Warsaw issued a decision regarding the refusal to grant consent to the construction of the Wilanów Shopping Centre, which was the subject of an application dated 19 August 2014, primarily due to a discrepancy in the interpretation of the law by the Company and by the President of the Capital City of Warsaw in respect of the provisions of the zoning plan.
The Company plans to file an appeal against such decision as soon as possible.
The above decision does not impact the book value of the relevant property as recorded in the Company’s financial statements.
Legal basis: Article 17 section 1 of the Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (the market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC – inside information.
13.10.201610:19
