Starhedge SA Management Board (hereinafter: "Issuer", "Starhedge" or "Company") with its registered office in Warsaw, informs that on 22 September 2017 it concluded in the form of a notarial deed with Viart Sp. z o.o. with an office in Warsaw annex to the sale agreement, about which the Issuer informed in the current report ESPI No. 41/2016 of December 28, 2016. br> Conclusion of the annex to the Agreement refers to the deadline for performance of the contractual penalty, which will not affect the performance of individual investment stages, in particular to commence entering into development contracts and selling apartments. Pursuant to the provisions of § 7 para. 2 of the established agreement, the Parties decided that if by 31 December 2017 the company under the name of VIART Spółka z ograniczoną odpowiedzialnością with its registered office in Warsaw did not deliver the company under the name Central Fund of Immovables Spółka z ograniczoną odpowiedzialnością with the registered office in Warsaw. limited liability, based in Łódź provided in the form of signatures certified by the notary public to delete a joint contractual mortgage up to PLN 15,000,000.00, the company under the name of VIART Spółka z ograniczoną odpowiedzialnością with its registered office in Warsaw committed to pay to Starhedge SA contractual penalty in the amount of PLN 15,000,000.00 (fifteen million zlotys). br> Considering the party's independent execution of the deadline for the investment carried out on the real estate sale agreement, including the commencement of the conclusion of Developer Agreements in connection with concluding September this year A trust deed with the Bank, as well as arrangements made with Central Company of Immovables limited liability company based in Łódź, as a mortgage creditor for the above-described contractual mortgage, including its consent to the development of Developer Agreements, the parties agreed in accordance change the content of § 7 para. 2 of the above-mentioned sales agreement of 27 December 2016 in such a way that § 7 para. 2 has received the following wording: "On behalf of VIART, a limited liability company with headquarters in Warsaw declares that the company represented by it undertakes to perform all activities necessary to release the real estate from contractual joint mortgage up to the amount of 15,000,000.00 (fifteen million)PLN established for the Central Fund of lmmovables Spółka z o.o. with registered office in Łódź and settlement of liabilities under own agreement and obligations under a contract secured by the subject mortgage. br> In the event that by December 31, 2020, VIART limited liability company with its registered office in Warsaw has not served the Buyer to the company Permission of Central Fund of Immovables Spółka z o. o with registered office in Łódź provided in the form of signatures certified by the notary public to delete a joint contractual mortgage up to PLN 15,000,000.00 (fifteen million), VIART limited liability company with headquarters in Warsaw undertakes to pay to the Company under the business name: STARHEDGE Spółka Akcyjna with a registered office in Warsaw for contractual penalty in the amount of 15,000,000.00 (fifteen million) zlotys by January 15, 2021 and regarding the obligation to pay this amount on time. The sole proprietor of a limited liability company with registered office in Warsaw declares that he submits the represented company directly from the act pursuant to art. 777 §1 para. 5 of the Code of Civil Procedure. The event on which the obligation to pay is dependent is the creditor's declaration in writing with a signature certified by a notary stating that the deadline for delivery of the permit to delete the mortgage expired unsuccessfully and the creditor may apply for granting the notarial clause enforceable by 31 May 2021. " br> The remaining provisions of the Agreement between the aforementioned companies remain unchanged. br> There are no personal or capital links between the Issuer and Viart Sp. z o. o. br> br> Issuer according to information included in the ESPI Report 41/2016 reminds that it purchased the real estate for investment purposes, with the intention of finalizing its investments under the name "Mackiewicz Apartments", including the construction of a building containing 80 apartments with a different area ranging from 30 to 90 m2 and the total residential area of PUM 5128 m2 with 85 parking spaces, 81 of which will be located in the underground garage. Br> Legal basis: br> Legal basis: art. 17 sec. 1 MAR br>
Source: company website, investor relations, current and periodic reports.