GLOBE TRADE CENTRE S.A.
(Incorporated and registered in Poland with KRS No. 61500)
(Share code on the WSE: GTC.S.A)
(Share code on the JSE: GTC ISIN: PLGTC0000037)
(“GTC” or “the Company”) 

The management board of Globe Trade Centre SA (“GTC”) informs that a purchase agreement (the "Agreement") of 100% of the capital of Dorado 1 EOOD (“Dorado”), a wholly owned Bulgarian limited liability company, owner of Mall of Sofia shopping mall and adjacent office building located in Sofia, Bulgaria was concluded on 26 April 2018 between EEE 5 S.à r.l., a company incorporated and existing under the laws of the Luxembourg (the “Seller”) and GTC (the “ Buyer”).

Mall of Sofia provides 23,700 sq m of retail leasable area and 10,300 sq. m of office space. Retail occupancy rate is currently at 98% and office occupancy rate is currently at 100%. GTC intends to hold the building as part of the income producing portfolio.

The net purchase price, after deduction for latent capital gains tax for Dorado under the Agreement amounted to approximately EUR 90,000,000.00 (ninety million euros),which as at the date of this current report, based on the average EUR/PLN exchange rate announced by the National Bank of Poland, amounts to PLN 381,528,000.00 (three hundred eighty one million five hundred twenty eight thousand PLN 0/100).

The purchase of the Dorado will be financed by GTC's own cash.

Simultaneously, Dorado entered into a loan agreement whereby OTP BANK PLC and DSK BANK EAD (“Lenders”) will finance the Mall of Sofia in the amount of EUR 61,425,000.00. The loan will be repaid in quarterly instalments and subsequently by a one-off payment of the remaining principal amount at maturity. Dorado is required to pay to the Lenders standard preparation costs and interest at a rate of 3M EURIBOR, increased by margin.

The closing of the transaction is expected in the second quarter of 2018 following completion of standard conditions precedent.

Neither GTC nor its managers or supervisors have any relationship with the Seller or with the Seller’s managers, except for the relations resulting from the Agreement.

Legal grounds: Article 17 of the Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (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.

Warsaw, Poland

Sponsor: Investec Bank Limited