Alma – delicatessen

Significant contract

Report number: RB 25/2011   Report created: 2011-12-13  

The Board of Directors of Alma Market SA hereby announces, that on day December 12, 2011 the Company has signed a contract with FMZ Gdynia Sp. z o.o. ("Lessor") with its registered seat in Warsaw. Subject of the contract is renting premises by Alma Market SA in commercial building in Gdynia for purposes of Alma Delicatessens store.

Lease agreement has been concluded for 10 years period starting on the day of opening, with the option of renewal for two further periods of five years. The contract value for the lease period of 20 years (assuming the value of rents and maintenance fees in the first operating year) will be approximately PLN 25,4 m.

In the case of termination of agreement by the Lessor as a result of disobeying contract's conditions specified therein, Alma Market SA is committed to pay a penalty up to PLN 1m and not higher than remaining rent till the end of the contract.

The criterion for recognizing the contract as a significant one is the value of the contract exceeding the value of 10% equity of Alma Market SA.