TROPHYRES (TPR): Conclusion of preliminary agreement on sale of business branches - raport 24

The Board of Directors of TrophyResort Nyrt. („the Company”) informs that on May 26, 2016 the Company signed a preliminary agreement with Rolling Visual System Kft. located in Hungary on sale of the Company’s two business branches on one hand the "Hotel and Medical branch", while on the other hand the "Markaz Project branch" (“the Branches”). The value of the transaction amount to a sum of HUF 1.585.700.280,- (EUR 5.115.162,-; 1 EUR = 310 HUF). The buyer also takes over the bank loans and the trade payables in a total value of an additional HUF 535.000.000,- (EUR 1.725.806,-; 1 EUR=310 HUF) and these two items give the total value of the transaction. The final agreement is to be concluded until 10th of June 2016, from which the 15 days deadline for payment of the above full amount starts.

The intention of the sale of the Branches was to reorganize the structure of the businesses. The transaction will have not any negative influence on the Company’s business activity as revenue and profit were both mainly connected to other activities in recent years, furthermore the Company plans to continue operating in the field of activity related to providing wellness, health and medical services to its customers at a later stage, just as its new holding structure gets completed. More on the effect and the business plan in the recent financial reports may be found.

Legal basis: § 3, subparagraph 2 point 1 of the Exhibit 3 (Current and Periodical Information in the Alternative Trading System on the NewConnect Market) to the Alternative Trading System Rules.

Osoby reprezentujące spółkę:
Petronella Öregné Kocsis - Member of the Board of Directors