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Hals-Development (HALS)

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Thursday 02 November, 2017

Hals-Development

THE SIGNIFICANT (MAJOR) TRANSACTION

RNS Number : 3629V
Hals-Development PJSC
02 November 2017
 

THE SIGNIFICANT (MAJOR) TRANSACTION

MOSCOW, RUSSIA - November 02, 2017 - HALS-Development (LSE, MICEX: HALS), a major Russian real estate Company, announces the Company (the Seller) on the 1st of November 2017 has entered into the significant (major) transaction, i.e. has concluded with the Joint-stock company "The Agency for Housing Mortgage Lending" (the Buyer) the contract for the sale of a future thing.

 

In accordance with the terms of the Contract, the Seller undertakes to transfer to the ownership of the Buyer the non-residential premises with a total area of ​​74,655.1 square meters and 327 parking spaces with a total area of ​​4,608.9 square meters (hereinafter referred to as the "Objects "), and the Buyer undertakes to take the Objects into ownership and pay for them.

The Objects are located in the Multifunctional Terminal Complex of the Moscow-City MIBC (hereinafter referred to as the" Complex ") located on the land plot (cadastral number 77: 01: 0004042: 75, with an area of ​​11 380 sq. meters).

The complex is created at the construction address: Moscow, Central Administrative District, Presnensky District, Krasnopresnenskaya Embankment, Moscow City MIBC, site No. 11 and is put into operation by stages. As of the date of concluding the Contract the Complex was put into operation for the first and second stage of construction, the Complex was assigned the address: Moscow, Central Administrative District, Presnenskaya Embankment, 10, p. 2.

The Seller undertakes to transfer to the Buyer, and the Buyer undertakes to accept the Objects not later than November 30, 2017. The Buyer undertakes to pay the full price of the Contract by transferring the price of the Contract to the Seller's settlement account specified in the Contract not later than November 30, 2017, taking into account the Seller's fulfillment of the obligations to provide the Buyer with the documents specified in the Contract.

The Contract price is 24 898 221 500 RUB, including VAT - 3 798 033 788.14 RUB (that is 40.51% of the book value of the assets of the Company on the end date of the reporting period (quarter, year) preceding the settlement of transaction in the amount of 61 464 501 thousands rubles (RAS)).

 

The transaction was approved by the Board of Directors of PJSC "Hals-Development", Minutes No. 2 dated 01.11.2017.

 

 

Hals-Development ("the Company") is the fastest growing developing company, specializing in commercial and residential real estate; it controls all stages of development project: from making conception till the following management of the built object. The main shareholder of the Company is VTB Bank.

The Company was the first Russian property developer to list its shares on the main market of the London Stock Exchange. The Company's shares are also listed on the Moscow Exchange.

The company is in the top five of the largest developers in Moscow. The total value of development projects of HALS-Development is 1.6-mil sq.m. In 2016 the Company put into operation 4 projects with total area 300 thousand sq.m.: the first phase of construction of the business class residential premises of  "Nasledie"; "Wine House"; "Peking Gardens"; "IQ-Quarter" residential block (MMDC "Moscow-City").

The total value of currently developing projects by HALS-Development is about 800 thousands sq.m. Hals-Development is currently developing such projects as development of the second phase construction of the business class residential premises of "Nasledie"; multifunctional complex "Iskra-Park", non-residential towers of "IQ-Quarter" (MMDC "Moscow-City"), the residential complex "Dostoyanie", the luxury residential premises "Taetralniy Dom".

The Company's portfolio includes such existing facilities as the business centers SkyLight, "Danilovsky Fort", hotel "Beijing", the shopping and entertainment complex "CDM at Lubyanka", resort complex "Camellia" in Sochi and other objects in Moscow and regions.

For further information please contact:

 Elizaveta Bekreneva

Corporate Secretary

Tel. +7 (495) 589-2222 (ext. 1338)

[email protected]

 

***

The information in the press release may contain forward-looking statements regarding future events or the future financial performance of Hals-Development. You can identify forward looking statements by terms such as "expect", "believe", "anticipate", "estimate", "intend", "will", "could", "may" or "might" the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and those actual events or results may differ materially. We do not intend to update these statements to reflect events and circumstances occurring after the date thereof or to reflect the occurrence of unanticipated events.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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