The preliminary agreement
Current report no.: 43/2015
The Management Board of LPP SA hereby informs that on 22 December 2015 a preliminary contract for lease of commercial premises in London, Oxford Street has been signed between LPP SA and LPP Reserved UK Limited and BHS Limited.
The above mentioned premises will be used by LPP as a store to sell clothing and accessories under Reserved brand.
The agreement is preliminary and conditioned by the final approval of real estate owner.
The value of the lease agreement is approximately PLN 675 million, and the duration shall be 25 years.
The agreement does not differ from those commonly used for this type of agreement, and the criterion of declaration of the contract is the value exceeding 10% of the equity of LPP SA.