Current Report 7/2020

Information on the number of preliminary premises sale agreements in the 1st quarter 2020

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.

In relation to receipt on 03 April 2020 of internal sales reports, the Management Board of INPRO SA with its registered office in Gdańsk informs that in the first quarter 2020 the INPRO Corporate Group achieved advance sales (in the meaning of concluded preliminary sale agreements net i.e. with the resignations taken into consideration: preliminary sale agreements concerning completed projects, agreements with entities other than customers who are natural persons, and agreements concerning commercial premises, and documents issued to customers on information concerning the conclusion of property development agreements, such documents enabling the customers to file an application for funds for the financing of the property development agreement) at the level of 190 agreements. As a comparison, the Group sold the total of 186 premises in the 1st quarter 2019, and 185 premises in the 4th quarter 2019. 

The Management Board of INPRO S.A. also informs that in the 1st quarter 2020 the Group handed over the total of 167 premises in comparison with 52 premises in the 1st quarter last year (the delivery concerns, first of all, the Azymut project). 

The Company keeps monitoring the developments related to the persistent consequences of the SARS-CoV-2 coronavirus spread and the impact of the pandemic on the Company's activity. In view of the circumstances changing quickly, the Management Board of INPRO SA is unable to specify unambiguously the impact of the epidemic on the activity, financial results and the development prospects of the Company and the entire Corporate Group.

The companies of the INPRO SA Corporate Group have taken active steps to ensure that some sales services can be provided through electronic communication means. Reservation agreements can be signed on the remote basis. Property development agreements are signed in the presence of a notary, while the universal recommendations from the sanitary services and the WHO are followed.

Detailed legal grounds: Article 17 para. 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)