The Management Board of Inter Cars S.A. (the “Issuer”) announces that it has been notified of the Polish Council of Ministers having issued a regulation amending the Regulation on the Olsztyn Province Special Economic Zone. The amending regulation was issued on June 3rd 2014, and it provides for the extension of the Olsztyn Province Special Economic Zone, which covers land held by the Issuer where its business premises are located. The amending regulation becomes effective on June 5th 2014. The Issuer will take steps to secure a relevant permit to conduct business in the Special Economic Zone, which will enable it to obtain state assistance in the form of tax incentives. ILS Sp. z o.o., a company of the Issuer's Group, is planning to erect a Logistics and Warehouse Centre on the land referred to above. The total cost of the project is PLN 155m, of which PLN 120m will be spent in 2014 and 2015. The objective is to construct a new central warehouse for the Inter Cars Group, which would take over most of the Group's logistics processes in Poland and the rest of Europe. The project is scheduled for completion by the end of 2018.
The Issuer will report having obtained the Special Economic Zone permit in a separate announcement.
Art. 56.1.2 of the Public Offering Act – Current and periodic information
- Krzysztof Soszyński - Vice-President of the Management Board
- Piotr Zamora - Commercial proxy