Spółka akcyjna Affare powstała w październiku 2007 roku.

Istotą naszego działania jest i będzie kupno i budowa lokali użytkowych, magazynów i pensjonatów na terenie Polski z przeznaczeniem na wynajem.

Oferta naszej firmy jest skierowana do grupy przedsiębiorców zajmujących się tzw. smallbusiness.

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Kancelaria Radców Prawnych
i Adwokatów
Gdańsk, ul. Kartuska 5

Biuro Biegłego Rewidenta sp. z o.o.
Gdańsk, ul. Otwarta 38B/8

Kancelaria Notarialna
Piotr Brzozowski
Nowy Dwór Gdański, ul. Sikorskiego 52

Affare S.A.

What we do and where we are heading

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The Affare joint-stock company was established in May 2007.

Its core activity is and will be purchasing and building commercial facilities, self-storage warehouses, as well as guesthouses and pensions in Poland, which will be subsequently rented. In the next phase of development the company will search for attractive real property situated on the Iberian Peninsula and in southern Italy through subsidiaries incorporated for that purpose or in cooperation with companies doing business on the local markets.

Our target shall include the group of so-called “small business” entrepreneurs, as well as financial institutions and other business entities, both domestic and foreign, looking for office and warehouse space. Due to the financial possibilities of our company and a gap present in that segment of the real estate market we plan to focus on small floorage buildings.

In March this year the company issued 757,000 C-series stocks of PLN 1.00 par value per single stock. The stocks of the company were taken up by 31 natural persons.

On 26 August 2009 a decision was made by an Extraordinary General Meeting of Shareholders to introduce the 757,000 C-series stocks into public trade on the NewConnect market.

The NewConnect market has the status of an organized market, but it is run by the Warsaw Stock Exchange outside the regulated market, following the formula of an alternative trading system. It is an offer aimed at new, developing companies, which operate in particular in the area of new technologies (although companies from other industries may be listed on the market as well). The offer of Warsaw Stock Exchange is something new in Poland, but similar platforms have already been in operation in Europe, for example the AIM market in London or First North within the Scandinavian OMX group.

NewConnect has been established for new, dynamic Polish companies for which a capital injection will open a possibility to utilize the potential of their innovativeness, and consequently will provide an opportunity for development to be crowned with an advancement into the group of large and valuable Polish companies. Due to the specific character of the issuers, the NewConnect market offers more liberal formal requirements and obligations to provide information, and thus a possibility to gain capital at a lower price. NewConnect is also expected to constitute a beginning of stock exchange careers for the enterprises listed on this market.

Currently the company has 4 commercial premises, one in Gdynia and three in Gdańsk.

In 2010 the company’s management board will focus its investment activities on the segment of commercial premises, in order to further extend the range of services offered by the company. Funds necessary to achieve the aforementioned goal shall be raised through another issue of stocks scheduled for the 2nd or the 3rd quarter of 2010. It will be a private placement or an issue with the right to take up new shares. Simultaneous implementation of both projects cannot be excluded, either. Also a possibility is considered to merge with other business entities with similar activity profiles, both already listed on the Warsaw Stock Exchange and currently remaining outside the public domain.

The construction of the first self-storage warehouse in northern Poland is scheduled for 2011. That service is addressed mainly to small enterprises and natural persons. They may rent any space (from 0.5 sq.m to several tens of square meters) for any period of time (from a couple of days to several years).

The main advantage of such a solution is the optimization of costs of space rented for storage of things. Additional advantages include, amongst others, all-day access to premises, convenient location and a wide range of protections for both the whole facility and individual stalls.

The optimization of storage space renting costs seems to be particularly important during the current financial crisis, which has also caused changes on the warehousing services market. Faced with a drop in goods sales volume or with a necessity to make a decision about temporary liquidation of an office, a warehouse or a store, customers look for alternative space where they may store their possessions. Storage solutions seem to be ideal here, and the market appears to be capable of absorbing large volumes of such services.

As regards the Polish market of commercial space, the self-storage segment is just at a fledgling stage. Finding a few or between ten and twenty square meters of storage space is virtually impossible. Meanwhile on the US market that segment is very popular. It starts to develop also in Europe. Customers in Great Britain have at their disposal 2.5 million square meters of storage space. The largest operator in Europe has 177 warehouses in 7 countries on the continent. Within the last 7 years 75 new warehouses were opened in Spain, whereas in France there are already 199 storage places. In Poland presently there are only 2 self-storage warehouses in Warsaw. In the opinion of the company’s Management Board it is a very attractive market, especially that it has not been practically known so far in Poland. The Management Board of the company intends to elaborate on the American achievements by means of introducing its own ideas resulting from the observation of the functioning of the American solutions.

In accordance with the development strategy adopted by the stockholders of Affare S.A., the third planned phase of company’s development is running its own guesthouse or hotel in Poland. The company assumes that in the future that project will constitute its main source of revenue. In a situation where the company has several or between ten and twenty facilities of that type, the company’s Management Board will consider focusing the company’s activity solely on the hotel industry.

The company plans to obtain funds for the implementation of that project from an issue of stocks supported with the company’s own funds or possibly with a bank credit.

In the course of its development the company intends to raise funds from the stock exchange market. However, if the market circumstances are disadvantageous (e.g. a bear market on the stock exchange), taking credits to avoid impeding the company’s development is not excluded. Currently the company may utilize bank credits collateralized with mortgages on the possessed facilities. Nevertheless, the company’s strategy provides for going public and obtaining access to a large group of investors, which will make it possible to obtain funds for investments from further issues of stocks.

After the first three strategic goals of development of AFFARE S.A. are achieved, the activities of the Management Board will be aimed at preparing the company for a debut on the regulated market.

Taking into account the fact that an increase in the company’s value will be generated not only from revenue earned from letting the possessed real estate, but also from a long-term growth of their value, profits will be guaranteed for potential stockholders both from dividends, and from prices of the held stocks increasing as a result of growth of the company value itself.