Intercapital Property Development ADSIC, a company incorporated and conducting business in the Republic of Bulgaria, registered with the Commercial Registry by the Bulgarian Registration Agency under number EIK 131397743, having its seat and registered address in Sofia, 7a Aksakov Street, floor 4 (hereinafter referred to as "ICPD") informs the public about the following: on 19th August 2013, the Company has transferred by notary the ownership of property (an apartment in vacation complex “Marina Cape") to “VEI Project" AD with regard to Contract for giving instead of implementation dated 16.08.2013, concluded with “VEI Project" AD. The Contract from 16.08.2013 was signed between the parties in connection with Contract dated 30.12.2011, under which “VEI Project" AD has undertaken to transfer to “Intercapital Property Development" ADSIC the ownership of properties, located in vacation complex “Marina Cape", the town of Aheloy. Due to the fact that “Intercapital Property Development" ADSIC has not paid the negotiated purchase price for the real estates, subject of the Contract from 30.12.2011, by 30.01.2013, and has exercised its right to acquire the properties under deferred payment terms, agreed with Annex dated 30.01.2013, “Intercapital Property Development" ADSIC owes a penalty to “VEI Project" AD in the amount of EUR 80 000 pursuant to the clauses of point 5.3 from the Contract dated 30.12.2011.

By transferring the above-described property at the amount of EUR 80 000 excl. VAT, “Intercapital Property Development" ADSIC repays its obligation to “VEI Project" AD, which represents the due and payable penalty, stipulated in point 5.3 in the Contract from 30.12.2011.

Legal basis: § 17 Section 4 of the Alternative Trading System Rules NewConnect