Termination of Strategic Partnership Umbrella Agreement with RF CorVal
The Management Board of REINO Capital S.A., based in Warsaw (“Issuer“), announces that on 13 July 2020 the Issuer and a subsidiary of the Issuer – REINO Partners Sp. z o.o. (hereinafter REINO Partners), submitted to RF CorVal Europe Limited, RF CorVal International Holdings Ltd. (together collectively “RF CorVal”) and Jaslo Limited a statement on the termination of an agreement establishing detailed rules and conditions for a Strategic Partnership Umbrella Agreement, the execution of which had been communicated by the Issuer via current report 34/2019 of 10 December 2019.
On 20 May 2020, RF CorVal withdrew from a preliminary conditional agreement on the sale of operating companies being part of BUMA Group, executed on 28 February 2020, and , acting through its representatives on the management board of the general partner in Luxembourg-based fund REINO RF CEE Real Estate S.C.A. SICAV-RAIF (“Fund”), caused the Fund to withdraw from preliminary agreements on the sale of BUMA Group’s operating companies, executed on 14 February 2020. These events were communicated by the Issuer in current report 20/2020 of 21 May 2020.
The Issuer will continue implementing its existing development strategy, particularly by adding property-market companies that supplement REINO Partners’ competences to its group and by building investment vehicles with assets managed by REINO Capital Group, using capabilities and scenarios alternative to those stipulated in the terminated agreement.
Legal basis:
art. 17 sec. 1 MAR – inside information
