Current Report 22/2016

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 the Individual Reporting Standard adopted by the Company, in which the Company assumed that it would inform about a change in the number of concluded preliminary sale agreements by at least 30% against the same period of the previous year, the Management Board of INPRO S.A. with its registered office in Gdańsk (the "Company") informs that in the second quarter 2016 the INPRO S.A. Group achieved preliminary sales (understood as the concluded preliminary agreements net) at the level of 76, which is 45% less than in the comparable period of the previous year covering April to June.
The decrease of the level of preliminary sales is related to prolonged bank procedures related to opening an escrow account for the Optima stage I property development project comprising popular flats. The demand for flats in that segment is very strong, and at the end of June this year INPRO only had 9 units available in that segment. The expected date of signing the escrow account agreement, which is a condition for the launch of sales at the Optima estate, is mid July this year.

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 (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)