2012 Current Reports EN

The Management Board of CELTIC PROPERTY DEVELOPMENTS S.A. („the Company”, „the Issuer”) hereby announces, that on 31 May 2012 the Company received signed agreements (“Agreements”) for assumption of debt and set-off. The Agreements are related to the loan granted by Celtic Property Developments S.A to its subsidiary East Europe Property Financing AB headquartered in Stockholm, Sweden („EEPF”), on the basis of the agreement signed 31 December 2009 („the Loan”).

The principal amount of the Loan, including accrued and unpaid interests, amounted to PLN 389,874,573.30 as at 1st May 2012. With regard to the above, liabilities of EEPF to Celtic Property Developments S.A. were assumed by other subsidiaries from the Celtic Group on the basis of Agreements for assumption of debt and set-off.

The above steps are part of actions taken by the Group aimed to simplify its organizational structure and optimize its operating costs.

The Agreements constitute a significant agreement in the meaning of Decree of Minister of Finance dated 19th of February 2009 on current and periodic information published by issuers of securities and conditions for recognizing as equivalent information required by law of nonmembers of state, due to their total value of 389,874,573.30 PLN. This amount exceeds 10% of Celtic Property Developments S.A. equity which at 31 March 2012 amounted to PLN 550,870 ths.

Signatures of persons entitled to representation:
1. Christopher Bruce, Member of the Management Board, 1st June 2012
2. Elżbieta Wiczkowska, Member of the Management Board, 1st June 2012

The Management Board of CELTIC PROPERTY DEVELOPMENTS S.A. (“the Company”) hereby informs about shareholders holding at least 5% of the voting rights at the Ordinary General Meeting of the Company held on 24 May 2012.

List of shareholders holding at least 5% of the votes with number of votes held by each of them according to shares of the Company and an indication of their percentage share in votes represented at the Ordinary General Meeting of the Company and in the total number of shares of the Company, is attached to the Report.

Legal basis:
Article 70 sec. 3 of the Act on Public Offering, Conditions Governing the Introduction of Financial Instruments to an Organized Trading and Public Companies, dated 29 July 2005.

Signatures of persons entitled to representation:
1. Aled Rhys Jones, Member of the Board, 30 May, 2012
2. Elżbieta Donata Wiczkowska, Member of the Board, 30 May, 2012.

Downloads
Shareholders_list_over_5procent_GM_ENG.pdf

The Management Board of CELTIC PROPERTY DEVELOPMENTS S.A. (“the Company”) informs that on 23 May 2012 the sale agreement (“the Agreement”) regarding the sale of shares in KMA sp. z o.o with headquarters in Warsaw, was concluded. 100% of shares in KMA Sp. z o.o. were owned by Celtic Investments Limited headquartered in Nicosia, Cyprus („the Seller”), which is subsidiary of CELTIC PROPERTY DEVELOPMENTS S.A. The Seller owned in KMA sp. z o.o. 100 shares with a nominal value of 500,00 PLN each, with total nominal value of 50.000,00 PLN. The shares represented 100% of share capital of KMA sp. z o.o. As a result of the transaction, nor the Company or its subsidiaries hold shares in KMA sp. z o.o.

The Agreement is not a significant agreement within the meaning of the Decree of Minister of Finance of 19 February 2009 on current and periodic information published by issuers of securities and conditions for recognizing as equivalent information required by law of nonmember state as well as the KMA Sp. z o.o. as the Company’s subsidiary did not have a significant impact on the Celtic Group’s financial result following the fact that KMA Sp. z o.o. have not been conducting activities during last time.

The Management Board informs the public about the Agreement in order to present changes in the Celtic Group structure.

Signatures of persons entitled to representation:
1. Elżbieta Donata Wiczkowska, Member of the Board, 23 May 2012
2. Christopher Bruce, Member of the Board, 23 May 2012.

The Management Board of CELTIC PROPERTY DEVELOPMENTS S.A. (“the Company”) informs, that on 23 May 2012 the sale agreement (“the Agreement”) was signed regarding the sale of shares in Devin Investments Sp. z o.o., in which 100% of shares were owned by Lakia Enterprises Limited, headquartered in Nicosia, Cyprus, which is a subsidiary of CELTIC PROPERTY DEVELOPMENTS S.A. Lakia Enterprises Limited is the sole shareholder of Devin Investments Sp. z o.o., in which it had 816 shares, at 500.00 PLN each, of the total amount of 408.000,00 PLN. As a result of the transaction, neither CELTIC PROPERTY DEVELOPMENTS S.A. nor its subsidiaries companies hold shares in Devin Investments Sp. z o.o.. Devin Investments Ltd. has the right of perpetual usufruct for the real estate situated in Warsaw, Włochy district, at Łopuszańska 22 street, with a total area of 4,5 ha.

The conclusion of the Agreement is not a significant agreement within the meaning of the Decree of Minister of Finance of 19 February 2009 on current and periodic information published by issuers of securities and conditions for recognizing as equivalent information required by law of nonmember state. The Management Board informs the public about the Agreement, following the fact that the conclusion of this Agreement constitutes an element of the implementation of Company’s strategy, adopted in 4Q 2011 and focusing on the realization of Ursus project and sale of other projects from the Group portfolio.

Signatures of persons entitled to representation:
1. Elżbieta Donata Wiczkowska, Member of the Board, 23 May 2012
2. Christopher Bruce, Member of the Board, 23 May 2012.

The Management Board of CELTIC PROPERTY DEVELOPMENTS S.A. (“the Company”) hereby announces that on the 22 of May 2012 Supervisory Board gave the positive opinion on the projects of the resolutions for the Ordinary Shareholders Meeting called on the 24th of May 2012 at 12:00 in the Company office in Warsaw, ul. Cybernetyki 7b and had not comments.

All the documents regarding Ordinary Shareholders Meeting are available on the Company’s web page: www.celtic.pl

Legal basis:
Art. 38.1.3 of the Decree of Minister of Finance dated 19th of February 2009 on current and periodic information published by issuers of securities and conditions for recognizing as equivalent information required by law of nonmember state and Rule 1, section 3) Part III contained in the document “Good Practices of Companies Listed at Warsaw Stock Exchange” (Resolution No. 20/1287/2011 of the Warsaw Stock Exchange Board of 19 October 2011).

Signatures of persons entitled to representation:
1. Aled Rhys Jones, Member of the Board, 22 May 2012
2. Elżbieta Donata Wiczkowska, Member of the Board, 22 May 2012.