Letter of Intent – sale of the real property

Date

2016-02-19

Current report no.

7/2016

Management Board of TIM SA with its registered office in Wrocław hereby informs that on 19 February 2016 the Company received a signed copy of a letter of intent, hereinafter: the “Letter of Intent” dated 16 February 2016, concluded between TIM SA and entities representing a renowned fund operating in the property development sector. Under the Letter of Intent the Parties declare their will to conduct negotiations in order to determine the conditions for the sales transaction by TIM SA of the perpetual usufruct right to the land 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 ground, for which the District Court for Wrocław – Krzyki in Wrocław maintains a Land and Mortgage Register No. KW WR1K/00095869/1. In the Letter of Intent the Parties declare their will to conclude a contract of sale of the above real property by 31 March 2016, provided that all transaction terms are agreed upon. In case the transaction in question comes to effect, the Company will inform about the above in a separate current report.

In the opinion of the Management Board of TIM SA, in the event the contract of sale of the real property, referred to above, is concluded, the transaction may have a positive impact on the financial results of TIM SA.

2016-02-19, Maciej Posadzy – Member of the Board
2016-02-19, Anna Slobodzian-Pula – Member of the Board