Notification re the property acquisition in Poland under the name ALPHA MOGILANY DEVELOPMENT Spzoo
INTRACOM CONSTRUCTIONS SOCIETE ANONYME TECHNICAL AND STEEL CONSTRUCTIONS with distinctive title INTRAKAT, notifies that the acquisition of 298,690 m2 of plot at the MOGILANY area, south of Krakow, Poland, was completed.
The said purchase was realized by the newly incorporated ALPHA MOGILANY DEVELOPMENT Spzoo, headquartered in Karkow, in which INTRAKAT INTERNATIONAL LTD, an INTRAKAT subsidiary, holds a 25% stake.
The total purchase value amounted 21,900,000 PLN (or EUR 6,522,000 approximately) and was fulfilled through the share capital increase of ALPHA MOGILANY DEVELOPMENT Spzoo by 12,000,000 PLN, as well as through a loan provided by Polbank EFG.
It is noted that, ALPHA MOGILANY DEVELOPMENT� share capital amounts to 12,050,000 PLN, and all existing shareholders of the Company participated pro rata in the rights issue, which resulted to no changes in the shareholders�composition