Source: https://ir.cntsa.pl/en/reports/current-reports
Timestamp: 2019-07-23 20:07:57
Document Index: 138191517

Matched Legal Cases: ['Art. 69', 'Art. 69', 'Art. 70', 'Art. 17', 'Art. 17', 'Art. 348', '§ 1', 'Art. 359', '§ 2', '§ 5', '§ 1', '§2', 'Art. 428', '§ 1', '§ 1', '§ 1', '§ 1', '§ 1', '§ 19', 'Art. 17']

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Notification of a decrease in the total number of votes and shares in the Company by the Shareholders.
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Centrum Nowoczesnych Technologii S.A. with its registered office in Sosnowiec (hereinafter referred to as the "Company" or the "Issuer") informs that on 10 July 2019 it received from FIP 11 Fundusz Inwestycyjny Zamknięty Aktywów Niepublicznych with its registered office in Warsaw (FIP 11) information on the sale of the Company's shares concluded as part of a buy-back of own shares carried out by mBank brokerage house on behalf of the Issuer, settled on 27 June 2019, which resulted in a decrease of below 5% of the shareholding in Wartico Invest Sp. z o.o. (hereinafter referred to as the "Fund") in the total number of shares and votes in the Company and a decrease by more than 1% in the total number of shares and votes in the Company by FIP 11 Fundusz Inwestycyjny Zamknięty Aktywów Niepublicznych and entities acting in agreement referred to in Article 87 sec. 1 item 5 of the Act, i.e. Zbigniew Jakubas together with subsidiaries under the Act, i.e. Multico Sp. z o.o, Energopol Warszawa S.A., Energopol Trade S.A. and Wartico Invest Sp. z o.o., with the following content:
" Under Art. 69 sec. 1 item 2 and Art. 69 sec. 2 of the Act on Public Offering, Conditions Governing the Introduction of Financial Instruments to Organised Trading, and Public Companies" of 29 July 2005, Journal of Laws No. 184, item 1539 (the "Act"), I hereby inform that as a result of a sale transaction:
106 978 shares of Centrum Nowoczesnych Technologii S.A. (the "Company") made by Mr Zbigniew Jakubas;
148,658 shares in the Company made by Multico Sp. z o.o.;
123,083 shares in the Company made by Wartico Invest Sp. z o.o.,
as part of the Company's buy-back of its own shares, settled on 27 June 2019, the share of Wartico Invest Sp. z o.o. in the total number of shares and votes in the Company dropped below 5% and the total number of shares and votes in the Company represented by FIP 11 Fundusz Inwestycyjny Zamknięty Aktywów Niepublicznych and entities acting in agreement referred to in Article 87 sec. 1 item 5 of the Act, i.e. Zbigniew Jakubas together with the subsidiaries under the Act, i.e. Multico Sp. z o.o., Energopol Warszawa S.A., Energopol Trade S.A. and Wartico Invest Sp. z o.o. decreased by more than 1% of the total number of shares and votes in the Company.
As a result of the aforementioned transaction, Wartico Invest Sp. z o.o. holds 386,026 shares giving the right to 386,026 votes, which constitutes 4.25% of the share capital of the Company, whereas FIP 11 Fundusz Inwestycyjny Zamknięty Aktywów Niepublicznych and entities acting in agreement referred to in Article 87 sec. 1 item 5 of the Act, i.e. Zbigniew Jakubas together with the subsidiaries under the Act, i.e. Multico Sp. z o.o., Energopol Warszawa S.A., Energopol Trade S.A. and Wartico Invest Sp. z o.o., hold in total 6,371,655 shares giving the right to 6,371,655 votes, which constitutes 70.10 % of the share capital of Centrum Nowoczesnych Technologii S.A. and the same number of votes.
Before the aforementioned change, FIP 11 Fundusz Inwestycyjny Zamknięty Aktywów Niepublicznych and entities acting in agreement referred to in Article 87 sec. 1 item 5 of the Act, i.e. Zbigniew Jakubas together with the subsidiaries under the Act, i.e. Multico Sp. z o.o., Energopol Warszawa S.A., Energopol Trade S.A. and Wartico Invest Sp. z o.o., held in total 6,750,374 shares, constituting 74.26% of the share capital of the Company. The shares in question entitled in total to exercise 6,750,374 votes at the General Meeting and constituted 74.26% of the total number of votes.
FIP 11 Fundusz Inwestycyjny Zamknięty Aktywów Niepublicznych declares that there are no entities dependent on it as defined in the Act. The subsidiaries of Zbigniew Jakubas, remaining at the same time the Company's shareholders, are: Multico Sp. z o.o. with its registered office in Warsaw, Energopol - Warszawa S.A. with its registered office in Warsaw, Energopol - Trade S.A. with its registered office in Warsaw and Wartico Invest Sp. z o.o. with its registered office in Warsaw".
Legal basis: Art. 70 (1) of the Act on Public Offering - acquisition or disposal of a significant block of shares.
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Information on sales of premises and apartments for the second quarter of 2019 as part of development activities.
The Management Board of Centrum Nowoczesnych Technologii Spółka Akcyjna with its registered office in Sosnowiec (the "the Issuer", the "Company") hereby reports that, following the aggregation of partial data on 3 July 2019, the subsidiary Centrum Nowoczesnych Technologii Spółka Akcyjna spółka komandytowa (the "subsidiary") has provided the Issuer with information on the results of sales of premises and apartments as part of the Nowa 5 Dzielnica development project in Krakow. The sales process within the aforementioned investment was commenced in March 2017.
The Issuer reports that in the second quarter of 2019 the subsidiary company concluded 82 development contracts for the sale of apartments (of which 5 developer agreements concluded in the second quarter were transformed into agreements transferring the ownership of apartments as of 30 June 2019). In total, in the second quarter of 2019, the Issuer concluded 9 contracts transferring the ownership of apartments and 3 contracts transferring the ownership of service premises.
Furthermore, as of 30 June 2019, the subsidiary was a party to 26 reservation agreements for the sale of apartments, which require transformation into development agreements.
The Issuer explains that the number of premises which will be recognized in the Group's financial result for the period from 1 January to 30 June 2019 will amount to 13 (9 apartments, 4 premises). In accordance with the accounting policy of Centrum Nowoczesnych Technologii Spółka Akcyjna spółka komandytowa, a subsidiary recognizes that the transfer of risks, controls and benefits takes place at the moment of signing the notarial deed transferring ownership to the purchased real estate. Upon recognition of revenue from sales, the subsidiary recognizes and allocates the technical cost of production of a given area, reducing inventories in proportion to the share of the sold premises in the total area of sold premises.
In the second quarter of 2019, the Subsidiary concluded 12 contracts for the final transfer of ownership of real estate.
Legal basis Art. 17 sec. 1 MAR - confidential information.
Information on the turnover of the subsidiary on Polish Power Exchange.
The Board of the Management of Centrum Nowoczesnych Technologii S.A. based in Sosnowiec (the "Issuer") announces that in connection with the sales of electricity by the subsidiary GET EnTra Sp. o.o. (The "Subsidiary") on 28 June 2019, the total value of trading on the Polish Power Exchange S.A. (the "Exchange") in the period from 21.12.2018 to 28.06.2019 amounted to PLN 148,878.47 thous. The aforementioned amount includes, among others purchase and sales of electricity and Property rights with a delivery date during the period from 22.12.2018 to 31.12.2020. The transaction with the highest value contained in the aforementioned period was a package of deals of 21.12.2019 including the purchase and sales of electricity with a total value of PLN 14,251.92 thous. with a delivery date during the period from 22.12.2019 to 31.12.2019.
The transactions referred to above made by the Subsidiary are carried out within the core business of energy trading, including in particular electricity trading and gas fuels trading in a network system.
Terms and conditions of concluded contracts (transactions) do not contain any provisions on contractual penalties as well as not diverge from typical terms and conditions of this kind / type of transactions on the market.
Legal Basis: Art. 17 (1) of MAR - confidential information.
Receipt of a notification of a change in the ownership of the Company's shares in connection with the purchase of the Company's own shares.
The Management Board of Centrum Nowoczesnych Technologii S.A. with its registered office in Sosnowiec (the "Company") informs that today it has received a notification from the Company (the "Notice") submitted in performance of the obligations specified in Article 69(1)(1) of the Act of 29 July 2005 on Public Offering, Conditions Governing the Introduction of Financial Instruments to Organized Trading, and Public Companies (i.e. Journal of Laws of 2019, item 623), in connection with the purchase of the Company's 590,000 own shares as part of the buy-back of its own shares and the exceeding of 5% of the total number of votes in the Company.
The content of the received Notification is provided by the Company as an annex hereto.
Legal basis: Article 70 (1) of the Act on Public Offering - acquisition or disposal of a significant block of shares.
Annex to Current Report no. 22/2019
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Purchase by CNT S.A. of its own shares for the purpose of redemption.
The Management Board of Centrum Nowoczesnych Technologii S.A. with its registered office in Sosnowiec (the "Issuer", the "Company") informs that as a result of the settlement of the transaction of purchase of its own shares on 27 June 2019, the Company purchased a total of 590,000 (in words: five hundred and ninety thousand) own shares coded as ISIN securities: PLERGPL00014, with a nominal value of PLN 4.00 each share, which together constitute 6.49% of the share capital of the Company. These shares correspond to 590,000 votes at the Company's General Meeting, which constitutes 6.49% of votes at the Company's General Meeting. All the acquired shares are ordinary shares. The purchase price was PLN 15.00 ( in words: fifteen zloty) per share. The total purchase price of Own Shares, increased by the costs of their acquisition, was not higher than the reserve capital established for this purpose from the amount which can be distributed under Art. 348.1 of the Polish Companies Act; however, the total amount the Company allocated for the purchase of its Own Shares did not exceed PLN 8,850,000,00.
The shares were purchased under the offer announced by the Company on 12 June 2019 (current reports no. 16/2019 and 16/2019/K) to purchase no more than 590,000 shares of the Company at a nominal value of PLN 4.00 each. The offer was announced on the basis of Resolution No. 15 of the Ordinary General Meeting of the Company of 6 June 2019 on authorization of the Management Board to purchase its own shares for the purpose of redemption, adopted pursuant to Article 362 § 1 point. 8 of the Commercial Companies Code.
The shares were purchased outside the regulated market, through mBank S.A. with its registered office in Warsaw - Dom Maklerski mBank, in the form of an invitation to tender for the sale of the Company's Own Shares, ensuring equal access of the Company's shareholders to the exercise of the right to sell the Company's Own Shares. In particular, each shareholder, in response to the invitation to tender for the sale of shares, could submit an offer to sell all the Company's shares to which he was entitled.
The purpose of acquiring Own Shares is to redeem them and subsequently reduce the Company's share capital, as determined in Art. 359 of the Polish Companies Act. Under § 2 of Resolution No. 15 of the Ordinary General Meeting of Shareholders of the Company of 6 June 2019, the Management Board of the Company shall submit a resolution on redemption of the acquired own shares to the agenda of the next General Meeting of Shareholders of the Company.
The Management Board informs that as of the date of publication of this report, the Company holds a total of 590,000 own shares, constituting 6.49% of the Company's share capital. These shares correspond to 590,000 votes at the General Meeting of the Company, which constitutes 6.49% of votes at the General Meeting of the Company.
Under the applicable legal regulations, the Company is not entitled to exercise voting rights attached to its own shares. Apart from the above, the Company does not hold any other own shares.
Legal basis: Article 17(1) MAR - confidential information.
Assignment and allocation of the Company's share sale offers as part of the buy-back of its own shares.
The Management Board of Centrum Nowoczesnych Technologii S.A. with its registered office in Sosnowiec (the "Company") informs that today, i.e. on 25 June 2019, it has received information about the result of the assignment and allocation of offers submitted by the Company's shareholders in response to the offer to buy back the Company's own shares announced by the Company on 12 June 2019 (current reports no. 16/2019 and 16/2019/K), pursuant to which:
a total of 20 offers were submitted, covering a total of 2,440,421 shares in the Company;
the average allocation rate was 24.18%;
the average reduction rate was 75.82%.
At the same time, on the basis of information obtained from mBank Brokerage House, an intermediary in the buy-back of own shares, the Company informs that the settlement of the buy-back of own shares is due to take place on 27 June 2019.
Information provided to a shareholder out of the general meeting under Article 428 § 5 of the Commercial Companies Code.
The Management Board of Centrum Nowoczesnych Technologii S.A. with its registered office in Sosnowiec (the "Issuer", the "Company") informs that in connection with the request of the Company's shareholder of 6 June 2019 addressed to the Company's Management Board during the Ordinary General Meeting of the Company (the "AGM") for information to be provided pursuant to Article 428 § 1 of the Commercial Companies Code (the "CCC"), the Management Board of the Issuer publishes the following list of questions received from the shareholder together with the Management Board's answers on 19 June 2019.
1. Maxer - trustee in bankruptcy. Is the execution of the contract at risk?
- Information contained on pages 34-35 of the separate financial statements of CNT S.A: "Maxer S.A. in bankruptcy - in accordance with the provisions of the agreement on assignment of payment claims in the amount of 97.5% of the net amount of each invoice issued by the General Contractor (MAXER S.A. in bankruptcy) to the Ordering Party: Państwowe Gospodarstwo Wodne Wody Polskie (hereinafter: Polish Waters) are made by the Ordering Party (the "Wody Polskie") directly to the account of the General Subcontractor (i.e. Consortium Leader - CNT S.A.) and Member of the Consortium (ETP S.A.)".
- The execution of the contract is not at risk.
2. At what stage is the realization of the Oder water barrage? Are there any delays in payments?
- The execution of the contract is proceeding in accordance with the assumed schedule specified in the Agreement. Within the framework of the contract execution under the name "Construction of the Malczyce water barrage on the Oder River", works related to, among others, liquidation of the permanent weir construction cofferdam, finishing works in the construction pit of the permanent weir and reconstruction of roads are still to be carried out.
- There are no delays in payments.
3. Do the contracts take into account an increase in prices of materials and salaries?
- The answer to this question cannot be given because the contract details are confidential, and the breach thereof may expose the Company to damage (Legal basis §2 Art. 428 CCC).
1. Loss of PLN 8 million - what does it result from? - Is it the result of speculation on the energy market?
- GET EnTra sp. z o.o. is a separate business entity that operates its own bodies, i.e. the Management Board, the Supervisory Board, the General Meeting of Shareholders and its own reporting. Due to the nature of the business activity conducted by Get EnTra Sp. z o.o. where not all purchase contracts are concluded at the exact same time as the sale contracts, Get EnTra Sp. z o.o. may be exposed to market risks related to having a partially open position and a sudden change in prices on the market in 2018.
The year 2018 saw unprecedented fluctuations in some prices of futures contracts listed on the Polish Power Exchange (Towarowa Giełda Energii S.A.), which had a significant impact on the company's financial results. These events had a significant negative impact on the profitability of GET EnTra sp. z o.o. in 2018.
- The Issuing Party's Management Board proposes to review the current report no. 65/2018 and the Consolidated periodic report of the Capital Group for the third quarter of 2018 (pp. 57-58), where the factors influencing the occurrence of the above-mentioned loss are described.
2. Has Tomasz Krzyżewski been dismissed from the company in relation to the incurred loss?
- Information included on page 12 of the consolidated financial statements of the CNT Group for 2018: "On 27 August 2018 Mr. Tomasz Krzyżewski resigned from the position of Member of the Management Board of GET EnTra sp. z o.o.”.
3. Risk measures have been established:
(a) Volumetric limit
(b) Value at Risk
Were these limits exceeded in 2018?
- In GET EnTra sp. z o.o., the internal control system is based on the market valuation of all open positions and a volumetric statement of those positions (mtm). Additionally, the Company has a fixed transaction volume limit and Value at Risk, which should not be exceeded under the Risk Control Procedure. The disclosure by the Company whether and when the risk levels in 2018 were exceeded is a disclosure of the internal Risk Control Procedure and constitutes the Company's trade secret.
4. What was the Value at Risk at the end of 2018?
- Disclosure of the Value at Risk level at the end of 2018 constitutes disclosure of the internal Risk Control Procedure and constitutes a trade secret of the company. At the same time, in the opinion of the Management Board of CNT S.A., the above question asked by the shareholder during the Ordinary General Meeting of CNT S.A. on 6 June 2019 does not meet the criteria set out in Article 428 § 1 of the Commercial Companies Code - it does not apply to the company and is not justified for the assessment of the issues included in the agenda of the Ordinary General Meeting of CNT S.A.
5. Why is the Czech branch run? What are the costs of running this branch? Has it been established for tax reasons?
- GET EnTra sp. z o.o. is a separate business entity from CNT S.A. which has its own bodies, i.e. the Management Board, Supervisory Board and Shareholders' Meeting, as well as its own reporting. In the opinion of the Management Board of CNT S.A., the above question asked by the shareholder during the Ordinary General Meeting of CNT S.A. on 6 June 2019 does not meet the criteria set out in Article 428 § 1 of the Commercial Companies Code - does not apply to the company and is not justified for the assessment of the issues included in the agenda, because the approval of the financial statements of GET EnTra sp. z o.o. for 2018 was the subject of the Ordinary General Meeting of Shareholders of GET EnTra sp. z o.o.
6. Is it possible to prepare the Company's financial results forecast? To what extent does the result depend on speculation on the energy market?
- GET EnTra sp. z o.o. is a separate business entity from CNT S.A. which has its own bodies, i.e. the Management Board, Supervisory Board and Shareholders' Meeting, as well as its own reporting. In the opinion of the Management Board of CNT S.A., the above question asked by the shareholder during the Ordinary General Meeting of CNT S.A. on 6 June 2019 year does not apply to CNT S.A. or matters included in the agenda of the Ordinary General Meeting of CNT S.A., because the approval of the financial statement of GET EnTra sp. z o.o. for 2018 year was the subject of the Ordinary General Meeting of Shareholders of GET EnTra sp. z o.o.
Centrum Nowoczesnych Technologii Spółka Akcyjna sp.k.
1. Did the Management Board take any steps in 2018 to find a new investment after the completion of Nowa 5 Dzielnica?
- Information included on page 15 of the consolidated financial statements of the CNT Group for 2018: "The activity of the limited partnership is focused on an investment in real estate purchased by the subsidiary and located in Krakow, Wrocławska 53. The subsidiary is implementing a development investment in the form of construction of a housing estate under the name of "Nowa 5 Dzielnica" (New 5th District) on the aforementioned real estate. (hereinafter the "N5D") with the necessary ancillary infrastructure and the sale of residential and commercial premises.
As it is evident from the above, Centrum Nowoczesnych Technologii Spółka Akcyjna sp. k. is a company established to carry out the investment under the name of "Nowa 5 Dzielnica", therefore the Management Board of CNT S.A. (acting on behalf of the general partner of a limited partnership) does not plan to carry out other investments by this subsidiary at the moment.
2. What is the sense of reducing the shares in the company in September 2018, and then the transfer of these funds to the company CNT S.A. sp.k.? Did the other shareholders provide the limited partnership with the funds in the same way?
- The reduction in the shares in September 2018 was a decision of all partners of the limited partnership and was carried out in accordance with the applicable legal regulations.
- Information contained on page 62 of the separate financial statements of CNT S.A:
"In 2018, the Company granted loans to its subsidiary Centrum Nowoczesnych Technologii Spółka Akcyjna spółka komandytowa. The balance of these loans as of 31.12.2018 amounted to PLN 9 000 thousand in total, with the repayment date by 31 August 2019. The interests and commissions were determined on an arm's length basis.”
"In February 2019, the Company granted a loan to its subsidiary Centrum Nowoczesnych Technologii Spółka Akcyjna spółka komandytowa for a total amount of PLN 3,000 thousand to be repaid by 31 August 2019. Interest and commissions were determined on an arm's length basis.
On 3 April 2019, as part of standard cash management tools at the level of the Capital Group, the Issuing Party granted another loan to the subsidiary Centrum Nowoczesnych Technologii Spółka Akcyjna spółka komandytowa for the amount of PLN 20,000 thousand to be repaid by 31 March 2020. Interest and commissions were established on an arm's length basis (WIBOR 3M plus margin).
On 3 April, the Issuing Party also signed annexes to the Contracts of loans granted to Centrum Nowoczesnych Technologii Spółka Akcyjna spółka komandytowa in 2018 for the amount of PLN 9,000 thousand and in February 2019 for the amount of PLN 3,000 thousand, and under these annexes the deadline for repayment of the aforementioned loans was extended until 31 March 2020. The remaining provisions of the aforementioned loan agreements remain unchanged.
The loans granted by the Group are described in the transfer pricing documentation. The loans were granted on the basis of written agreements. The terms and conditions of all loans are identical. The purpose of granting loans was to finance the ongoing operations of the company. The loans were granted against payment, i.e. with interest and a commission on granting them. The agreements do not require any additional arrangements upon early repayment of a given loan. The lender is obliged to return the loans on the dates specified in the agreements.”
3. What were the terms and conditions of the loan?
- Information on pages 62-63 of the separate financial statements of CNT S.A., where all loans granted, including those after the balance sheet date and the rules and interest rates applicable to loans (table on page 63) were described. Additionally, the company maintains transfer pricing documentation in this respect, and interest and commissions have been established on an arm's length basis.
4. Does the contract with Grimbud, Eiffage include clauses on changing the value of the contract due to an increase in prices of materials, wages and salaries?
- Information on page 34 of the consolidated financial statements of the CNT Group: "the contracts executed by the Company with Contractors are signed on the basis of lump-sum contracts" and therefore the lump-sum remuneration resulting from the above contracts will not change.
5. Did the company provide Ms. Joanna Mazur's with an apartment for free?
- In the opinion of the Management Board of CNT S.A., the above question asked by the shareholder during the Ordinary General Meeting of CNT S.A. on 6 June 2019 does not meet the criteria set out in Article 428 § 1 of the Commercial Companies Code - does not apply to the company and is not justified for the evaluation of matters included in the agenda of the Ordinary General Meeting of CNT S.A.
6. If so, why did the media not take care of the company's image in the course of the action, but of the image of Mr Jakubas himself?
- In the opinion of the Management Board of CNT S.A., the above question asked by the shareholder during the Ordinary General Meeting of CNT S.A. on 6 June 2019 does not meet the criteria set out in Article 428 § 1 of the Commercial Companies Code - does not apply to the company and is not justified for the assessment of the issues included in the agenda of the Ordinary General Meeting of Shareholders of CNT S.A.
1. Business suspended until July 1st? What is the point of maintaining the company?
- In the opinion of the Management Board of CNT S.A., the above question asked by the shareholder during the Ordinary General Meeting of CNT S.A. on 6 June 2019 does not meet the criteria set out in Article 428 § 1 of the Commercial Companies Code - does not apply to the company and is not justified for the evaluation of the issues included in the agenda of the Ordinary General Meeting of Shareholders of CNT S.A.
Legal basis: § 19 section 1 item 12 of the Regulation of the Minister of Finance of 29 March 2018 on current and periodic information provided by issuers of securities and conditions for recognizing as equivalent information required by the laws of a non-member state (Journal of Laws of 2018, item 757).
Signing the Letter of Intent on the purchase of real estate.
The Management Board of Centrum Nowoczesnych Technologii S.A. with its registered office in Sosnowiec (the "Issuer", the "Company") hereby reports that today, i.e. on 19 June 2019 the Company and SQUARE 2 spółka z ograniczoną odpowiedzialnością spółka komandytowa with its registered office in Lublin (hereinafter referred to as the "SQUARE 2") signed a letter of intent concerning the determination of the possibility of the Issuer's (or the special purpose vehicle created for the purpose by the Issuer) acquisition of a land property located in Lublin, constituting plot No. 2/80, for which the District Court, Land and Mortgage Registers Department in Lublin, keeps the land and mortgage register number LU1I/00342197/4 (the "Property").
The Parties decided to conclude the Letter of Intent, as the Company is interested in purchasing the Real Property from SQUARE 2.
The Parties do not exclude also a possibility of joint investment in the form of a limited partnership, however, if such a cooperation takes place, SQUARE 2 shall be its limited partner, while the Issuer shall be the sole general partner of such a partnership.
The Parties will make a decision on the form and principles of their cooperation after CNT S.A. has regulated the principles of cooperation with the Maria Curie-Skłodowska University in Lublin (the "UMCS"), with which the Real Property is adjacent to.
The Parties agreed to sign a letter of intent to confirm their intentions regarding the determination of preliminary terms and conditions of development of the property in question and the determination of preliminary terms and conditions for a potential transaction of sale of real estate, provided that CNT S.A. takes further steps to acquire by CNT S.A. (or a special purpose vehicle established for this purpose by CNT S.A.) Real Property, including the regulation by CNT S.A. (or a special purpose vehicle established for this purpose by CNT S.A.) of the principles of good neighbourly cooperation with UMCS by concluding an agreement on good cooperation and neighbourly relations within the scope agreed by the Parties.
In the event of a possibility of purchasing the said real estate or joint investment, the Parties will be able to perform actions aimed at determining the rules, structure and schedule of transactions, which could be executed on the basis of a separate agreement.
Information on sales of premises and apartments for the first quarter of 2019 as part of development activities.
The Management Board of Centrum Nowoczesnych Technologii Spółka Akcyjna with its registered office in Sosnowiec (the "the Issuer", the "Company") hereby reports that, following the aggregation of partial data on 1 April 2019, the subsidiary Centrum Nowoczesnych Technologii Spółka Akcyjna spółka komandytowa (the "subsidiary") has provided the Issuer with information on the results of sales of premises and apartments as part of the Nowa 5 Dzielnica development project in Krakow.
The Issuer explains that the sales process under the aforementioned investment started in March 2017.
The Issuer reports that in the first quarter of 2019 the subsidiary company concluded 74 development contracts for the sale of apartments and 1 contract transferring the ownership of service premises.
Furthermore, as of 31 March 2019, the subsidiary was a party to 29 reservation agreements for the sale of apartments, which require transformation into development agreements.
The Issuer explains that the number of premises which will be recognized in the Group's financial result for the period from 1 January to 31 March 2019 will amount to 1 (one service premises). In accordance with the accounting policy of Centrum Nowoczesnych Technologii Spółka Akcyjna spółka komandytowa, a subsidiary recognizes that the transfer of risks, controls and benefits takes place at the moment of signing the notarial deed transferring ownership to the purchased real estate. Upon recognition of revenue from sales, the subsidiary recognizes and allocates the technical cost of production of a given area, reducing inventories in proportion to the share of the sold premises in the total area of sold premises.
In the first quarter of 2019, the Subsidiary concluded 1 contract for the final transfer of ownership of real estate (one service premises).
Legal basis: Art. 17 sec. 1 MAR - confidential information.
Information received pursuant to Article 69 sec. 2 point 2 of the Act on Public Offering - an increase in the total number of votes in the Company by more than 1%.
Centrum Nowoczesnych Technologii S.A. with its registered office in Sosnowiec informs that on 21 November 2018 it received information from FIP 11 Fundusz Inwestycyjny Zamknięty Aktywów Niepublicznych with its registered office in Warsaw (FIP 11) about an increase in the total number of votes in the Company by more than 1%, submitted pursuant to Article 69 sec. 2 point 2 of the Act of 29 July 2005 on public offering and conditions for introducing financial instruments to organised trading and on public companies (consolidated text: Journal of Laws 2018, item 512, as amended), as follows:
"Acting pursuant to Article 69 sec. 1 point 1 and Article 69 sec. 2 point 2 of the Act on Public Offering, Conditions Governing the Introduction of Financial Instruments to Organised Trading, and Public Companies" of 29 July 2005, Journal of Laws No. 184 item 1539 (the "Act"), I hereby inform you that as a result of the transaction of purchase of 113,404 shares of Centrum Nowoczesnych Technologii S.A. (the "Company") by FIP 11 Fundusz Inwestycyjny Zamknięty Aktywów Niepublicznych carried out on 15 February 2019, FIP 11 Fundusz Inwestycyjny Zamknięty Aktywów Niepublicznych reached a share of the total number of votes in the Company exceeding 50% and the total number of votes of the Company represented by FIP 11 Fundusz Inwestycyjny Zamknięty Aktywów Niepublicznych and entities acting in accordance with the agreement referred to in Article 87 sec. 1 point 5 of the Act, i.e. Zbigniew Jakubas together with the subsidiaries under the Act, i.e. Multico Sp. z o.o.., Energopol Warszawa S.A., Energopol Trade S.A. and Wartico Invest Sp. z o.o. increased the total number of votes in the Company by over 1 %.
As a result of the transaction referred to above, FIP 11 Fundusz Inwestycyjny Zamknięty Aktywów Niepublicznych holds 4,609,652 shares, which give right to 4,609,652 votes, which represents 50.71% of the share capital of the Company while the FIP 11 Fundusz Inwestycyjny Zamknięty Aktywów Niepublicznych and entities acting in agreement referred to in Article 87 section 1 point 5 of the Act, i.e. Zbigniew Jakubas together with the subsidiaries under the Act, i.e. Multico Sp. z o.o., Energopol Warszawa S.A., Energopol Trade S.A. and Wartico Invest Sp. z o.o. hold 6,740,611 shares giving the right to 6,740,611 votes, which constitutes 74.15 % of the share capital of Centrum Nowoczesnych Technologii S.A. and the same number of votes.
Before the aforementioned change, FIP 11 Fundusz Inwestycyjny Zamknięty Aktywów Niepublicznych and entities acting in agreement referred to in Article 87 section 1 point 5 of the Act, i.e. Zbigniew Jakubas together with the subsidiaries under the Act, i.e. Multico Sp. z o.o., Energopol Warszawa S.A., Energopol Trade S.A. and Wartico Invest Sp. z o.o. held 6,627,207 shares in total, constituting 72.91 % of the share capital of the Company. The shares held jointly entitled to exercise 6,627,207 votes at the General Meeting and accounted for 72.91% of the total number of votes.
FIP 11 Fundusz Inwestycyjny Zamknięty Aktywów Niepublicznych declares that there are no subsidiaries under provisions of the Act. The subsidiaries of Zbigniew Jakubas that are also shareholders of the Company are Multico Sp. z o.o. with its registered office in Warsaw, Energopol - Warszawa S.A. with its registered office in Warsaw, Energopol - Trade S.A. with its registered office in Warsaw and Wartico Invest Sp. z o.o. with its registered office in Warsaw".