Current Report 18/2018

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.

Further to current report No. 13/2018 of 12 June 2018, the Management Board of INPRO Spółka Akcyjna with its registered office in Gdańsk ("INPRO", the "Company" ) informs that today, i.e. 18 June 2018, the management board of the Company's subsidiary i.e. Hotel Mikołajki Sp. z o.o ("Hotel Mikołajki") signed a letter of intent (the "Letter of Intent") with Dobry Hotel Mięczkowski Spółka komandytowa with its registered office in Sopot ("Dobry Hotel") in relation to the contemplated by Hotel Mikołajki possible conclusion of an agreement. Under that agreement, Dobry Hotel Mięczkowski Spółka komandytowa with its registered office in Sopot will lease a five star (*****) hotel facility in Mikołajki, called the "Hotel Mikołajki" belonging to Hotel Mikołajki Sp. z o.o., and will take over the rights and obligations under apartment lease agreements for apartments located in the same building as the hotel, but constituting separate real property owned by third parties, and will step into other obligation relationships concerning the operation of that hotel facility (the "Transaction").

Pursuant to the provisions of the Letter of Intent, Hotel Mikołajki and Dobry Hotel set out its expiry date for 31 July 2018. The parties to the Letter of Intent declared, however, that they would continue further arrangements and negotiations on the wording of the agreement concerning the Transaction in such a way that the tenancy relationship can begin on 1 July 2018. 

The Company also emphasizes that the value of the Transaction should not exceed 5% of the issuer's equity.

Information on signing the Letter of Intent has been classified by the Company as confidential due to the significant importance of the possible Transaction for Hotel Mikołajki Sp z o.o. as INPRO's subsidiary, in particular with regard to a change of the nature and profile of its activity, now consisting in hotel activity, to the lease of own assets by Hotel Mikołajki.

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)