Conclusion of a sale and purchase agreement concerning an office portfolio in Belgrade, Serbia.
GLOBE TRADE CENTRE S.A.
(Incorporated and registered in Poland with KRS No. 61500)
(Share code on the WSE: GTC.S.A)
(Share code on the JSE: GTC ISIN: PLGTC0000037)
(“GTC” or “the Company”)
Current report number: 5/2021
Date: 24 May 2021
Subject: Conclusion of a sale and purchase agreement concerning an office portfolio in Belgrade,
The management board of Globe Trade Centre SA (“GTC”) announces that on 21 May 2021 a sale and
purchase agreement (the “Agreement”) was signed concerning the sale of the entire share capital of
i) Atlas Centar d.o.o. Beograd, Demo Invest d.o.o. Novi Beograd, GTC BBC d.o.o., GTC
Business Park d.o.o. Beograd and GTC Medjunarodni Razvoj Nekretnina d.o.o. Beograd,
each a Serbian company, 30% owned by GTC and 70% owned by Office Planet Kft. (a
Hungarian company 100% owned by GTC Hungary Real Estate Development Zrt), and
ii) Commercial and Residential Ventures d.o.o. Beograd, a Serbian company 100% owned by
(collectively: the “Sale Companies”), among GTC and GTC Hungary Real Estate Development Zrt. as
sellers and a Hungarian limited liability company from the Indotek Group, as the buyer (the “Buyer”).
The Sale Companies are owners of a portfolio of office buildings in Belgrade, Serbia, detailed as follows:
GLA Year of construction
Project name Company name
Green Heart Atlas Centar d.o.o. Beograd 46,269 2008/2020
FortyOne Demo Invest d.o.o. Novi Beograd 28,033 2015-2017
BBC GTC BBC d.o.o. 17,849 2009 (2017)
19th Avenue GTC Business Park d.o.o. Beograd 16,707 2008
GTC Me?unarodni Razvoj
GTC House Nekretnina d.o.o. Beograd 13,317 2005
The purchase price under the Agreement shall be calculated on an enterprise value basis, based on a
property value of aggregate EUR 267.6 million or PLN 1,203.1 million, based on the average EUR/PLN
exchange rate announced by the National Bank of Poland equal to EUR 4.4958 per PLN and will be
subject to adjustments. The aggregate book value of the properties held by the Serbian Companies as
at 31 December 2020 amounted to EUR 265.6 million or PLN 1,194.1 million, based on the average
EUR/PLN exchange rate announced by the National Bank of Poland equal to EUR 4.4958 per PLN. The
transaction will result in recognition of profit on the revaluation of assets of EUR 2 million or PLN 9
million, based on the average EUR/PLN exchange rate announced by the National Bank of Poland equal
to EUR 4.4958 per PLN.
The closing of the transaction is expected to take place in the third quarter of 2021 following the
satisfaction of customary conditions precedent, including the completion of acquisition debt financing by
None of GTC, its subsidiaries or their respective management or supervisory board members have any
relationship with the Buyer or with the Buyer’s managers other than the relationship resulting from the
Legal grounds: Article 17 section 1 of the Regulation (EU) No 596/2014 of the European Parliament and
of the Council of 16 April 2014 on market abuse (Market Abuse Regulation) and repealing Directive
2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC,
2003/125/EC and 2004/72/EC.
/s/ Yovav Carmi /s/ Ariel Alejandro Ferstman
President of the Management Board Member of the Management Board
Sponsor: Investec Bank Limited
Date: 24-05-2021 07:05:00
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