The Management Board of Przedsiębiorstwo Produkcyjno Handlowe WADEX Spółka Akcyjna ("Issuer") with its registered office in Wrocław informs that today it filed a letter regarding the extension of the lease agreement for the real property located at ul. Jerzmanowska 8 in Wrocław, intended for manufacturing and trading ("Agreement") . Concluding the Agreement with a related company S & P Logistic Sp. z o.o. based in Wrocław ("the Lessor"), the Issuer informed in Current Report No. 1/2015 of January 2, 2015.
The agreement provides for the possibility of its automatic extension for a further 10 years, subject to the notification of this fact To the landlord during the period of at least 12 months before the end of the term of the lease by the Issuer. The original Agreement was concluded for a definite period until December 31, 2019.
and as a result of submitting the Issuer's letter it will be extended until December 31, 2029. The monthly rental cost will be about 150 thousand. PLN. The agreement does not contain any provisions regarding contractual penalties or terms that terminate or suspend. The terms of the Agreement do not differ from the terms commonly used for this type of contracts.
Rented property is used by the Issuer to conduct its core business.
Source: company website, investor relations, current and periodic reports.