Raporty

16/2014 Concluding an agreement to lease premises for a multiprofile outpatient clinic at the Arkadia Shopping Centre in Warsaw

The Management Board of Centrum Medyczne ENEL-MED S.A. announces that on 31 March 2014 it concluded an agreement with the Arkadia Centrum Handlowe Sp. z o.o.

The object of the agreement is the lease of premises at the Arkadia Shopping Center which is located at Al. Jana Pawła II 82 in Warsaw.

The premises at the Shopping Center will be leased for the needs of a multi-profile outpatient clinic ENEL-MED in which the Company has had its own medical facility since 2005.

The Agreement enters into force on the date on which the clinic is opened, not later than 18 April 2014, while the new terms and conditions enter into force since 30 September 2014 and remain valid until 29 September 2019. The amount of rent during the term of the agreement may be equal to PLN 6,332,767.50 gross (the rate of rent will be subject to indexation). The rental fees will be paid in PLN based on the average NBP EUR/PLN exchange rate in effect as of the date of issuing the invoice (for the purposes of this report, an exchange rate equal to PLN 4.20 was assumed), while fees due for costs of service may be equal to about PLN 2,142,755.80. The total value of the agreement will be equal to about PLN 8,475,523.30.

Additionally, the Lessor will reimburse the Lessee for the costs of any finishing works with a permanent character. The maximum amount of financing the works may not exceed PLN 310,000 gross (an amount set in EUR and converted to PLN according to the average exchange rate announced by NBP on the day directly preceding the date of issuing the invoice).

Under the effective agreement, the Lessee will at its own cost take and maintain throughout the term of the lease a third party liability insurance for damage caused by the Lessee to third parties. The sum insured limit for each event will be equal to at least the equivalent in PLN of the amount of EUR 1,000,000.

If this agreement is terminated by the Lessor, the Lessee will, regardless of the obligation to pay the Lessor any contractual penalties due to the latter under the agreement (such penalties not to exceed 10% of the value of the agreement and the equivalent of EUR 200,000), pay to the Lessor an additional contractual penalty calculated as the product of minimum guaranteed rent and fees, surcharged with the VAT tax, due for the last calendar month directly preceding the date of agreement termination. The amount of contractual penalty will not, however, be lower than six times or higher than nine times the product of minimum guaranteed rent and fees, surcharged with the VAT tax, which depending on the EUR exchange rate may be equivalent to about EUR 200,000.

The agreement has been considered significant, since its value exceeds 10% of the Company’s equity.