Raporty

13/2014 Conclusion of the space lease agreement for the purposes of the multi-profile outpatient clinic at Atrium Centre in Warsaw

The Management Board of Centrum Medyczne ENEL-MED S.A. would like to inform you that on 13 March 2014, the Issuer concluded the agreement with Kite Duo Sp. z o.o. The subject matter of the agreement is lease of the space in the Atrium Plaza building located in Warsaw, Al. Jana Pawła II 29.

The space in the Atrium Plaza building will be leased for the purposes of the ENEL-MED multi-profile outpatient clinic, operating as the own clinic of the Company at that location since 1999.

In the opinion of the Management Board, the agreement concluded has amended financial terms of the agreement concluded previously, which would expire in the fourth quarter 2017, to the benefit of the Company. The agreement has resulted in reducing the monthly rent rate, while extending the lease period. The agreement was concluded for lease of space A for 10 years starting 1 March 2014, and for lease of space B, making up about 1/5 of the total space leased, for 9 years and 6 months starting 1 September 2014. The value of the agreement may reach about PLN 12,049,206.48 gross during its term (the rent rate will be subject to indexation). Rent will be paid in PLN based on the average exchange rate EUR/PLN announced by the National Bank of Poland on the date of issuing the invoice (for the purposes of the report, calculations were based on the exchange rate of PLN 4.20 for EUR 1). Service charges during the term of the agreement can reach about PLN 3,712,656.60 gross, and the total value of the agreement – about PLN 15,761,863.08 gross.

Additionally, the Landlord has undertaken to cover some costs of works planned by the Tenant, aimed at refurbishing the space leased and adjusting it to current needs. The budget for space refurbishment works is PLN 615,000 gross. The Landlord’s share in costs of the Tenant’s work will be paid in the amount being the PLN equivalent of the amount in EUR, translated based on the average exchange rate announced by the National Bank of Poland on the last working day preceding the day of issuing the invoice, after reimbursement costs are incurred. The Tenant or its contractors are authorised to start any Tenant’s works after prior providing the Landlord with a copy of the CAR insurance policy for the amount no less than EUR 250,000.

Under the agreement, the Issuer, on its own account and at its own cost, is obliged to independently conclude insurance agreements, including, inter alia, for third party civil liability insurance, provided that the minimum sum insured will be the PLN equivalent of EUR 500,000.

The agreement has been recognised as a significant one, since its value exceeds 10% of the equity of the Company.