Conclusion of the agreement and commencement of the investment for the construction of Selvita Research Center
The Management Board of Selvita S.A. with its registered office in Krakow (“Company”) with reference to the current report No. 30/2020 of August 31, 2020, the current report No. 38/2020 of December 16, 2020, the current report No. 40/2020 of December 21, 2020 and the current report No. 6/2021 of April 13, 2021 hereby informs that on July 12, 2021 the Company concluded with PORR S.A. with its registered office in Warsaw (“General Contractor”) the agreement (“Agreement”) for “Construction of the Research and Development Center for Laboratory Services of Selvita S.A.” (“Selvita Research Center”).
The value of the General Contractor’s remuneration will amount to EUR 19.1 million net. The completion of the construction is expected at the turn of 2022/23.
Selvita has secured financing for the investment, including EUR 9.3 million grant and EUR 14.3m bank loan in accordance with the information published by the Company in December 2020 (in the current reports no. 38/2020 and 40/2020).
An expanded state-of-the-art laboratory space will allow Company to increase its scale of business and expand research capabilities. Selvita Research Centre will be created on a plot of land purchased by the Company at Podole Street in Krakow, less than 700 m away from the current company HQ and will provide new laboratories for medicinal chemistry, biochemistry, cell & molecular biology, ADME/DMPK, in vivo pharmacology and analytical chemistry. In the future, the new facility will accommodate approximately 250 employees.
The Agreement was considered significant due to its value and importance for the implementation of the Selvita Capital Group Development Strategy for 2020-2023, being its key assumptions in terms of further dynamic development of the Company.
Legal basis: Art. 17 par. 1 of MAR
Representatives of the Company:
- Bogusław Sieczkowski – President of the Management Board
- Dariusz Kurdas – Management Board Member