CFI HOLDING S.A.: Conclusion of a Significant Agreement – Correction
The Management Board of Intakus S.A. (the “Issuer”, the “Company”) with its registered office in Wrocław, hereby issues a correction to Current Report No. 74/2014 published on December 22, 2014, supplementing its content with information concerning Central Fund of Immovables sp. z o.o., in accordance with §7 of the Regulation of the Minister of Finance of February 19, 2009, on current and periodic information provided by issuers of securities. The corrected content is as follows:
Central Fund of Immovables sp. z o.o. (CFI), established in 2001, is one of the largest real estate companies in the Łódź Voivodeship. The company has many years of experience in the commercialization of various commercial, office, and warehouse properties. Currently, CFI manages over seventy commercial properties located in the Łódź, Mazowieckie, Silesian, Pomeranian, Lower Silesian, and Lubusz Voivodeships. Its assets include office buildings, commercial-residential tenement houses, local shopping and service centers, and repurposed post-industrial buildings adapted for functional office spaces.
CFI’s core business is the opportunistic acquisition of real estate assets—residential, office-commercial, and industrial—and their adaptation for commercial, service, and office purposes, including long-term leasing.
According to the adopted strategy for the coming years, CFI has decided to expand its operations to include hospitality services, creating its own brand offering hotel and hotel-conference services—Boutique Hotel’s (www.hotels24.com.pl). Currently, CFI owns and manages 10 hotel properties, including six three-star hotels and four tourist facilities. Investments are underway to adapt additional properties to three-star hotel standards, expanding the Boutique Hotel’s network with six new properties planned to become operational in 2015–2016. CFI also plans to launch another hotel network under the Apart Hotel’s brand (four-star standard).
With the acquisition of 100% of shares in CFI, the Issuer also gained control over the subsidiaries previously belonging to the CFI group, now forming part of the Intakus S.A. Capital Group.
Currently, the CFI group now under Intakus S.A. includes, among others:
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Wrocławskie Przedsiębiorstwo Usług Hotelarskich Sp. z o.o. (www.puhot.pl) – CFI controls approximately 58.81% of share capital;
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Wrocławskie Centrum SPA Sp. z o.o. (www.spa.wroc.pl) – CFI controls 100% of share capital;
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Active Man Sp. z o.o. (www.imfit.pl) – CFI controls 100% of share capital;
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Food Market Sp. z o.o. (www.foodmarket.pl) – CFI controls 100% of share capital;
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Przedsiębiorstwo Usługowo-Handlowe „Chemikolor” S.A. (www.chemikolor.pl) – CFI controls approximately 52% of share capital;
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Krajowa Spółka Przemysłu Odzieżowego „Polconfex” Sp. z o.o. (www.polconfex.com.pl) – CFI controls approximately 67.01% of share capital.
The Issuer clarifies that the purpose of acquiring 100% of CFI shares is to continue and further develop the business of CFI and its subsidiaries, including increasing their market value, further commercialization of their commercial and hotel properties, and launching additional facilities under the Boutique Hotel’s and Apart Hotel’s brands.
Additionally, the Issuer plans the development of the subsidiaries as follows:
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Food Market Sp. z o.o. – expand catering services, acquire additional regular clients, and open new outlets;
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Active Man Sp. z o.o. – increase service offerings, acquire new clients and contractors, and expand recreational, sauna, and SPA facilities;
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Chemikolor S.A. – systematic and organic growth, increase revenue, and expand market share in wholesale chemical products;
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Wrocławskie Centrum SPA Sp. z o.o. – continue modernization of the property at ul. Teatralna 10-12 in Wrocław, including SPA and sauna facilities over 3,000 m², and build a new four-star hotel on the same site;
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Krajowa Spółka Przemysłu Odzieżowego Polconfex Sp. z o.o. – planned development, including modernization of commercial properties and construction of a mixed-use office-hotel complex in central Łódź.
The management board informs that the agreement signed on December 21, 2014 for the sale of 100% of shares in CFI, with payment terms of up to three years, was intended, in accordance with the letter of intent of October 24, 2014, to facilitate the reverse takeover of the Intakus Capital Group by Restata Investments Limited, based in 28 Irish Town, Gibraltar.
There is a personal connection between Restata Investments Limited and the Issuer, as the sole director of Restata Investments Limited, Mr. Michał Kawczyński, also serves as Vice-President of the Management Board of Intakus S.A.
