Current Report 13/2018

Only the Polish version of this document is legally binding.
This translation is provided for information only.
Every effort has been made to ensure the accuracy of this publication.

INPRO Spółka Akcyjna with its registered office in Gdańsk ("INPRO," the "Company") informs that the management board of a subsidiary, i.e. Hotel Mikołajki Sp. z o.o., fixed the key framework conditions of the negotiation process concerning the tenancy of the real estate of Hotel Mikołajki Sp. z o.o. in Mikołajki. The negotiation process aims at finding satisfactory terms and conditions of the tenancy agreement on the basis of which a third party with wide experience in hotel activity will lease a hotel facility in Mikołajki from Hotel Mikołajki Sp. z o.o. to pursue its activity there and collect benefits therefrom.
Fixing the key negotiation conditions permits negotiations based on a letter of intent which can signed in the coming days. The Company's Management Board emphasizes that the negotiations do not mean that they will end in fixing the final cooperation conditions and in entering into a final tenancy agreement as the success of that process also depends on achieving satisfactory results of the negotiations and on obtaining statements and consent from the bank financing the construction of the hotel facility mentioned above.
As the sole shareholder of Hotel Mikołajki Sp. z o.o., INPRO SA considers the above-mentioned information on the possible change of the nature of the business of a subsidiary, which has been the operator of the above-mentioned hotel facility so far, to be confidential information in the meaning of Article 17 par. 1 of the Regulation of the European Parliament and of the Council (EU) No 596/2014 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 (also referred to as the MAR).
The Company undertakes to report on the further negotiation process.

Detailed legal grounds: Article 17 par. 1 of the Regulation of the European Parliament and of the Council (EU) No 596/2014 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 (also referred to as the MAR).