Termination of preliminary agreements to acquire BUMA Group companies
The Management Board of REINO Capital SA (“Issuer”) hereby discloses the following inside information on the execution today by the Issuer and a subsidiary of the Issuer – REINO SuppCos Sp. z o.o. – of an agreement with the vendors, which terminates the preliminary agreements to purchase shares in BUMA Group’s operating companies, the execution of which had been communicated by the Issuer in current report 16/2020 of 28 February 2020.
The reason for terminating these agreements was the withdrawal from the preliminary agreements on the sale of shares in the respective operating companies by RF CorVal International Holdings Limited and preliminary agreements on the sale of special-purpose vehicles being part of BUMA Group by REINO RF CEE Real Estate SCA SICAV-RAIF.
The agreement also includes an unconditional and irrevocable release of the parties from debt and any claims, including existing and future as well as conditional and unconditional claims, resulting from or related to the preliminary agreements, letter of intent dated 19 July 2019 or other documents pertaining to these agreements, especially as regards costs, penalties, fees, expenses or compensation.
Having executed this agreement, the Issuer is no longer exposed to the risk of having to pay contractual penalties as specified in the aforementioned preliminary agreements, which it had disclosed in the Q1 2020 periodic report, published on 27 May 2020.
Art. 17 sec. 1 MAR – inside information.