PEPCO GROUP N.V. (7/2021) Signature of the framework agreement between PEPCO and CCC Austria for the acquisition of commercial leases

Podstawa prawna: art. 17. 1 MAR.

Pepco Poland sp. z o.o. ("PEPCO"), a subsidiary of Pepco Group N.V, has signed an agreement to acquire up to 29 commercial store leases ("Leases") ("Agreement") from CCC Austria Ges.m.b.H ("CCC Austria"), a subsidiary of CCC S.A as part of the preparations to enter the Austrian market which were announced on 22nd April 2021. Following the successful store openings and customer reception to the PEPCO brand in Italy and more recently in Spain, Austria would represent the third western European market for PEPCO as part of Pepco Group's planned expansion across the entirety of Europe.

Subject to the satisfactory agreement of all parties, the intention of the Agreement is to assign the rights relating to the Leases to PEPCO for use in the Austrian market. The assignments and renegotiations are expected to be completed by September 30, 2021.

The transaction is conditional upon the fulfilment of a number of conditions, including:

- completion of the legal and operational due diligence process of lease agreements;

- obtaining the required corporate approvals for the assignment of all or selected lease agreements;

- obtaining consents of landlords to CCC Austria;

- conclusion of tripartite agreements transferring rights from a relevant lease agreements; and

- where applicable, conclusion of an agreement between a given landlord and CCC Austria on the termination of the given lease and the conclusion of a new lease agreement between the landlord and PEPCO.

In the event that a lease is terminated as part of the assignment process, PEPCO will not be obliged to pay any costs to the landlords or CCC.

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