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The retail park developer is in partnership with Polski Holding Rozwoju

Deweloper parków handlowych brata się z Polskim Holdingiem Rozwoju

– The parties to the letter of intent intend in good faith to conduct negotiations regarding the development of terms of merger of Tower Investment with PHR through a mutual exchange of shares, the aim of which will be to change the shareholding structure, as well as to change the basic business listed on the main market of the WSE – Tower Investments SA to the business conducted so far by PHR, while leaving the company's current activities as supplementary, conducted by subsidiaries – explains the company.

Tower Investments signs a letter of intent. There will be restructuring

The parties to the letter intend to conduct talks in order to implement the project consisting in:
– restructuring of the company's debt, transfer of some real estate assets to the company's subsidiaries;
– ensuring that TI will operate solely as a holding company and will not have any unpaid, overdue or due liabilities towards third parties, including taxes or social security or health insurance contributions, as well as any guarantees granted , guarantees or other types of security in favor of third parties;
– developing the target shareholding structure of the company and establishing the rules for implementing this process
– adoption of appropriate resolutions by the bodies of the parties enabling an increase in the company's capital and the signing of other agreed and required contracts or agreements that will allow achieving the target structure;
– PHR conducting a full due diligence process for Tower Investments (including an examination of the company's legal, tax and financial status).

The letter enters into force on the day of its conclusion and is valid until September 30, 2024.

Finance Tower Investments

Tower Investments specializes in comprehensive development services for the largest retail and service chains: from selecting an appropriate location, through purchasing real estate and obtaining the necessary administrative permits, to the implementation of a turnkey facility. Moreover, it is the owner of the Shopin brand. In 2017, the company moved from NewConnect to the main market of the WSE. Now he is looking for an idea for the future and how to survive difficult times.

Tower Investments has published its report for the fiscal year 2023, which runs from January 1, 2023 to December 31, 2023. The company recorded PLN 15.48 million of consolidated net loss attributable to shareholders of the parent company compared to PLN 10.24 million loss a year earlier.

The operating loss amounted to PLN 5.79 million compared to PLN 3.75 million profit a year earlier.

Consolidated sales revenues amounted to PLN 7.8 million in 2024 compared to PLN 26.56 million a year earlier.

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