Change of the servicing company

The Financial Supervision Commission with Decision N774 – DSIC from 20 June 2007 issued an approval for change of the servicing company FairPlay Properties Management EOOD with FairPlay International AD.

According to item 10.1. from the “Contract for Performance of the Activities as a Servicing Company” signed on 22.05.2007 between FairPlay Properties REIT and FairPlay International JSC: The assigner owes to the Servicing Company annual remuneration for the services according item 1.1.from the Contract as follows:
– When the registered Capital is up to BGN 70 000 000 – 3% / tree percents/ from the value of the registered capital;
– When the registered Capital is over BGN 70 000 000 – 2% / two percents/ from the value of the registered capital;
According to item 11.1.from the “Contract for Performance of the Activities as a Servicing Company”, signed on 22.05.2007 the assigner owes to the Service Company additional remuneration to the extent of 15% / fifteen percents/ from the profit of the assigner for each financial year.
The profit is the annual financial result of the assigner, without the influence of the remuneration from item 11.1.reorganized under the regulation of art.10, para 3 from the Act on the special investment purpose companies.
According to art.60 (1) from the By-laws of the company, the amount of  all the expenses for management and servicing of the company, including the expenses for: remuneration to the members of the Board of the Directors, to the Servicing Company, to the registered auditor, to the appraisal experts and to the Depositary bank for the year, cannot exceed  6.5% / six point five percents/ from the amount of the assets from the Balance of the company for the same year.