Disposal of the assets of material value - agreement on transfer of perpetual usufruct right

Current report no. 11/2019 dated 7 October 2019

The Board of Directors of Atlas Estates Limited with its registered seat in Guernsey (the "Company") hereby announces about conclusion on 7 October 2019 of agreement on transfer of perpetual usufruct right (the "Agreement") of undeveloped real property located in Warsaw, at 59 Grzybowska Street, designated as the plot of land no. 59/10, precinct no. 60104, with an area of 2,740.0 m², for which the District Court for Warszawa-Mokotów in Warsaw, X Land and Mortgage Register Division, keeps land and mortgage register No. WA4M/00382291/2 (the "Real Property") together with related rights, including the building permit. The Agreement was concluded between the subsidiary of the Company - HPO AEP Spółka z ograniczoną odpowiedzialnością Spółka jawna with its registered seat in Warsaw (the "Seller") and "GGH Atlas Tower Spółka z ograniczoną odpowiedzialnością" with its registered seat in Warsaw (the "Purchaser"). The Agreement was concluded in performance of the preliminary conditional agreement of 22 November 2018, which was reported in current report no. 8/2018 dated 22 November 2018 and in performance of conditional sale agreement of 7 August 2019, which was reported in current report no. 10/2019 dated 7 August 2019. The Seller and the Purchaser are non- related parties.

The price for the sale of the of right of the perpetual usufruct to the Real Property together with related rights amounts to PLN 148,000,000 increased by applicable VAT.

The Agreement is considered material as its value exceeds 15% of the Companies' equity.

Legal grounds: Article 17 of the Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC

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Atlas Estates Ltd. published this content on 07 October 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 October 2019 13:16:03 UTC