Euroterra Bulgaria AD has concluded contracts for purchase of the following landed properties in Sofia, Vitosha District
On 26.09.2007, Euroterra Bulgaria AD has concluded contracts for purchase of the following landed properties in Sofia, Vitosha District, as per the planning of Botanical Garden area:
– Real estate No 2332 comprising 268 sq. m, at the price of Euro 53,064
– Real estate No 1672 comprising an area of 500 sq. m, at the price of EUR 90,000
Both transactions are certified by a notary. The transaction concerning real estate No 2332 is in compliance with the GMS decision of Euroterra Bulgaria AD dated 29.06.2007, on the basis of an approved justification report pursuant to Art. 114a (1) of the POSA about the expedience and terms of the deal, and after an explicit authorisation of the company’s Board to conclude the deal. In the transaction is involved an interested person in the sense of Art. 114 (5) of the POSA, namely Twin Group-Sofia, which has been pointed out in the GMS decision. The transaction is concluded on conditions not less favourable than the market ones. The transaction concerning real estate No 1672 is connected to the regular business activity of the company in compliance with its object of business and there are no interested or related persons involved.