Conclusion of a real property sales agreement

Date

2016-03-31

Current report no.

11/2016

Management Board of TIM SA with its registered office in Wrocław hereby announces that on 30 March 2016 TIM SA concluded – as the seller – an agreement for the sale of the perpetual usufruct right to land property located in Wrocław at ul. Jaworska 11/13 consisting of a plot with the registration number 3/1, AM-21, with the surface area of 9214 m2, along with the ownership right to buildings, structures and devices situated on the above real property permanently attached to the land for which real property the District Court for Wrocław – Krzyki in Wrocław maintains a Land and Mortgage Register No. KW WR1K/00095869/1. The sales price amounted to PLN 7,000,000.00 plus tax on goods and services in the amount of PLN 1,610,000.00.

The Company informed about the intent to conclude the above transaction in the current report No. 7/2016 of 19.02.2016.
At the same time, the Company, acting as the lessee, entered into a lease agreement for the premises with an area of 1500 m2 to 2000 m2 and parking spaces which will be located in a building that is going to be built on the above real property by the purchaser of the above real property – acting as the lessor. The lease agreement was concluded for the period of 7 years of the date of transfer of the subject of the lease, whereas the date of the transfer of the subject of the lease may not be later than on 31 December 2020. The agreement provides a contractual right of withdrawal for the parties in cases specified in the agreement. The terms of the above agreement do not differ from market conditions for this type of agreements.
In the opinion of the Management Board of TIM S.A. conclusion of the sales agreement, referred to above, may have an impact on the financial results of TIM SA.

2016-03-31, Maciej Posadzy – Member of the Board
2016-03-31, Anna Slobodzian-Pula – Member of the Board