Legal basis
Art. 56 paragraph 1 pt 2 of the Bidding (current and periodic information) Act
Contents of the report:
The Management Board of Barlinek S.A. ("the Issuer") hereby informs that in the current report No 38/2008 dated 21st October 2008 concerning the signing of the agreement for the sale of fixed property between S.C. CERSANIT BACAU S.R.L. and the Issuer's subsidiary S.C. BARLINEK ROMANIA S.A., due to a typing error, it was erroneously reported that according to situation in the accounting ledger of the company Barlinek Romania as of the 30th of June 2008, book value of the parcel of land being sold off was 19,088,696.53 RON, which was equivalent to 17,540,603.24 PLN according to an average currency exchange rate published by the National Bank of Poland on 30 June 2008 i.e. 1 RON = 0,9189 PLN. In fact, according to situation in the accounting ledger of the company Barlinek Romania as of the 30th of June 2008, book value of the parcel of land being sold off was 18,621,358.36 RON, which was equivalent to 17,111,166.20 according to an average currency exchange rate published by the National Bank of Poland on 30 June 2008 i.e. 1 RON = 0,9189 PLN.
Published below is the correct contents of the Issuer's report: The management board of BARLINEK S.A. (hereinafter referred to as the "Issuer") hereby announces that on 20 October 2008, it received information from the management board of S.C. BARLINEK ROMANIA S.A., the company established in accordance with the Romanian law, with registered offices in Bacau (address: Calea Moinesti, 30 H, Bacau, Romania) (hereinafter referred to as "Barlinek Romania"), concerning the signing on the 17 October 2008 of an agreement for the sale or fixed property (hereinafter referred to as the "Agreement") between Barlinek Romania and S.C. CERSANIT BACAU S.R.L., a company established in accordance with the Romanian law with registered offices in Bacau (address: Calea Moinesti, 30 H, Bacau, Romania) (hereinafter referred to as the "Cersanit Bacau").
According to the provisions of the Agreement Barlinek Romania sold to Cersanit Bacau a parcel of land in a town of Margineni (Bacau region, Romania) of a total area of 336,031 m² including production workshops with a total area of 30,796 m² located on the above mentioned parcel of land (hereinafter referred to as the "Land").
Parties to this Agreement have agreed on the net price of the land at the amount of 37,060,557.02 RON, which is equivalent to 35,214,941.28 PLN according to an average currency exchange rate published by the National Bank of Poland on the 17th October 2008, i.e. 1 RON = 0,9502 PLN. Pursuant to the Agreement, part of the gross price, which is equal to the value of VAT will be paid by the buyer upon a written request of the seller served to the buyer, however no later than 25th of November 2008. The net price will be paid by the buyer upon the written request of the seller served to the buyer, however no later than within 30 days of signing of the Agreement. According to situation in the accounting ledger of the company Barlinek Romania as of the 30th of June 2008, book value of the parcel of land being sold off was 18,621,358.36 RON, which was equivalent to 17,111,166.20 PLN according to an average currency exchange rate published by the National Bank of Poland on 30 June 2008 i.e. 1 RON = 0,9189 PLN.
The agreement does not contain any provisions on contractual penalties and the parties did not agree to include any terms and conditions or deadlines. The Issuer directly holds 99,903 % of the share capital of Barlinek Romania. The Issuer is associated with the company Cersanit Bacau through the person of the primary shareholder, who directly and indirectly controls the Issuer and Cersanit S.A., a company holding 100% of the share capital of the company Cersanit Bacau. There is no association between the management of the Issuer and Cersanit Bacau while the persons supervising the Issuer, namely Mr Mariusz Waniołka, Mr Grzegorz Miroński and Mr Kamil Latos also hold supervisory positions in the company Cersanit SA.
The land being disposed of and the agreement signed are considered significant due to the criterion of 10% the Issuer's equity capital.
Legal basis: Paragraph 6 section 2 of the Ordinance of the Ministry of Finance of October (Journal of Laws No 209, item 1744 as amended) of October 19th 2005 w concerning current and periodic information released by issuers of securities.