Report number: 45/2018

Date of issue: 2018-07-03 11:22

Subject: Information on the sale of apartments for the second quarter of 2018 as a developer.

Contents of the report:

The Board of Management of Centrum Nowoczesnych Technologii Spółka Akcyjna based in Sosnowiec (the "Issuer", "the Company") informs that after the completion of partial data aggregation on 3 July 2018, the subsidiary Centrum Nowoczesnych Technologii Spółka Akcyjna spółka komandytowa ("the Subsidiary") informed the Issuer on the results of sales of apartments within the development investment Nowa 5 Dzielnica in Krakow.

The Issuer explains that the sales process within the aforementioned investment was launched in March 2017.

The Issuer informs that in the second quarter of 2018 the Subsidiary concluded 123 development agreements for the sale of apartments.

In addition, as of 30 June 2018, the Company was a party to 51 reservation agreements for the sale of apartments that require conversion into development contracts.

The Issuer explains that the number of units that will be recognized in the Group's financial result for the period from 1 January to 30 June 2018 will be 0 because in accordance with the accounting policy of Centrum Nowoczesnych Technologii Spółka Akcyjna spółka komandytowa, the Subsidiary considers that the transfer of risks, control and benefits shall take place upon signing the notarial deed transferring ownership of the property purchased. At the moment of recognition of sales revenue, the subsidiary recognizes the cost of production of the premises, reducing finished goods in proportion to the share of the premises sold in the total area of a particular type of premises.

The Subsidiary has not entered into any final agreement transferring ownership of the property nor released any residential or service premises in the second quarter of 2018.

Legal basis: Article 17 (1) MAR - confidential information.

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Centrum Nowoczesnych Technologii SA published this content on 03 July 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 03 July 2018 09:48:04 UTC