The Management Board of British Automotive Holding S.A. with its registered office in Warsaw [Issuer] informs that on November 7, 2018, British Automotive Polska S.A. [BAP] (ie a subsidiary of the Issuer) received from Jaguar Land Rover Deutschland GMBH - a company that is the head office of the Jaguar Land Rover concern for Europe, a letter of intent including direct or indirect intention (through a designated entity) of repurchase from BAP unsold, unregistered and factory new Jaguar and Land Rover cars as well as spare parts and accessories, which will be bought back after the end of the import agreement of 31 May 2016 (Importer and Authorized Repairer Agreement) [Import Agreement]. The expiration of the Import Agreement, due to its termination, will take place on 1 August 2020, which the Issuer reported in the current report RB 42/2018 dated 6 August 2018. According to the statement received, the purchase of unsold new cars, spare parts and accessories from BAP will include on the following conditions: for cars - subject to the origin of cars from the model year 2020, no real and legal obstacles to their further resale as new products and delivery of cars free from any claims by BAP and third parties, and in the case of spare parts and accessories - with the reservation that they will be delivered in the original packaging and with the indication that they will be spare parts or accessories with the latest catalog numbers, categorized as being quickly transferable. & Lt; br / & gt; All repurchases will be made at the original net purchase price, increased by the amount of possible taxes and reduced by any discounts or benefits granted to BAP as their purchaser. The buy-back will be carried out after the expiry of the Import Agreement. & Lt; br / & gt; In the document sent to BAP, Jaguar Land Rover Deutschland GmbH informs that it expects BAP to execute orders during the transitional period until the date of expiry of the Import Agreement, in normal quantities and in the manner adopted, and that Jaguar Land Rover Deutschland GMBH undertakes to cooperate with BAP to ensure continuity operation of the dealer network. & Lt; br / & gt;
Source: company website, investor relations, current and periodic reports.