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MESSAGE _ENGLISH VERSION_
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The
Management Board of Echo Investment S.A. _the "Company"_
hereby informs that on 27 May 2026, R4R Poland spółka z ograniczoną
odpowiedzialnością with its registered seat in Warsaw _"R4R
Poland"_, in which the Company holds a stake of 30% shares has
entered into a final sale agreement _"Final Agreement"_
with Vantage Development spółka akcyjna with its registered seat in
Wrocław _"Vantage Development"_, in performance of the
preliminary shares sale agreement dated 16 August 2025 _as amended on 1
December 2025_ _"Preliminary Sale Agreement"_, regarding
sale by R4R Poland of 100% of the shares in 18 limited liability
companies being subsidiaries of R4R Poland _"Transaction"_:
_i_ R4R Wrocław Rychtalska sp. z o.o., _ii_ R4R RE Wave 4 sp. z o.o.,
_iii_ R4R Wrocław Jaworska II sp. z o.o., _iv_ Hotel Wrocław
Grabiszyńska sp. z o.o., _v_ R4R Wrocław Park Zachodni sp. z o.o., _vi_
R4R Poznań Szczepanowskiego sp. z o.o., _vii_ R4R Poznań Nowe Miasto sp.
z o.o., _viii_ R4R Łódź Wodna sp. z o.o., _ix_ R4R Łódź Kilińskiego sp.
z o.o., _x_ R4R Warszawa Taśmowa sp. z o.o., _xi_ R4R Warszawa Woronicza
sp. z o.o., _xii_ M2 Hotel sp. z o.o., _xiii_ M2 Biuro sp. z o.o., _xiv_
R4R Warszawa Wilanowska sp. z o.o., _xv_ Pimech Invest sp. z o.o., _xvi_
R4R Gdańsk Kołobrzeska sp. z o.o., _xvii_ R4R RE Wave 3 sp. z o.o. and
_xviii_ R4R Kraków 3 Maja sp. z o.o., _collectively, "Subsidiaries"_.
The Subsidiaries hold title to the properties developed with buildings
used for residential or accommodation purposes.
The
parties have established an aggregate purchase price for the shares of
the Subsidiaries _"Price"_ as PLN 2,437,065,215.11,
adjusted, among other things, by the cash balance, net working capital
and intra-group and external debt of Subsidiaries. The estimated Price,
as well as amounts required to repay the external debt of the
Subsidiaries, and settle the internal debt of the Subsidiaries _to be
assumed by TAG Beteiligungs-und Immobilienverwaltungs GmbH, an entity
related to Vantage Development_, will be paid after execution of the
Final Agreement through an escrow account mechanism. The final Price
will be determined, following execution of the Final Agreement, based,
among others, on the cash balance and net working capital at the date of
execution of the Final Agreement.
The
Final Agreement reflects the provisions of the Preliminary Sale
Agreement, which contains standard provisions for this type of
transaction, including representations and warranties of R4R Poland, as
well as rules regarding the liability of the parties and risk securities.
In
connection with the Transaction, to secure R4R Poland's liability for
breach of representations and warranties, Vantage Development obtained
an insurance policy covering the R4R Poland liability for
representations and warranties.
The
Company reported the conclusion of the Preliminary Agreement, the
execution of the annex to the Preliminary Sale Agreement, and the
extension of the long stop date in the current reports dated 16 August
2025, No. 18/2025, dated1 December 2025, No. 27/2025 and dated 29 April
2026, No. 7/2026, respectively. The Company also reported the issuance
of the approval of the President of the Polish Office of Competition and
Consumer Protection for the Transaction in the current report dated 12
May 2026, No. 9/2026.
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RB: Zawarcie przez R4R Poland sp. z o.o. umowy przyrzeczonej sprzedaży 100% udziałów w
kapitale zakładowym niektórych spółek zależnych od R4R Poland sp. z o.o.
