Current Report 29/2019

Activities by INPRO SA in relation to the refusal of the occupancy permit for the Azymut estate

Only the Polish version of this document is legally binding.
This translation is provided for information only.
Every effort has been made to ensure the accuracy of this publication.

Further to current report No. 28/2019 of 03/12/2019 about the negative decision made by the County Construction Supervision Inspector for the city with county rights in Gdynia on the issue of the occupancy permit for the Azymut estate consisting of seven multi-family residential buildings with infrastructure in Gdynia, Wielkopolska / Strzelców streets (the "Decision"), the Management Board of INPRO SA informs that following the legal analysis of the Decision described in the current report mentioned above, and taking into account the will to receive the occupancy permit for the project within the optimum time scale, the Company decided to use the right to waive the right of appeal against the Decision, as provided by Article 127a of the Administrative Procedure Code of 14 June 1960. The Company's relevant statement has been filed at the County Construction Supervision Inspector in Gdynia today. As a result of the above step, the Decision will become final and valid in law, and this will enable the Company to file a new occupancy permit application for the project.

In the Company's opinion, the action model taken and described above will enable the procurement of the occupancy permit for the AZYMUT estate in the best time scale and thus secure the interests of all those who bought residential units at that estate.

The Company undertakes to report on the further progress of the occupancy permit decision procurement process.

Detailed legal grounds: Article 17 para. 1 of the Regulation of the European Parliament and of the Council (EU) No 596/2014 of 16 April 2014 on market abuse (the 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 (also referred to as the MAR)