Project update

Update from the originator: The entire project has not been liquidated, only the distributable profit (in the form of a dividend) and the equity issue premium (corresponding to 90% of the capital raised). It is pending to return the remaining 10% of the equity and the remaining cash in the liquidation, which together will be approximately 12% of the amount that has already been transferred. The date will depend on when the Tax Authority makes the refund of the pending VAT.

Update from the originator:

The progress of The Haus project has been rapid and satisfactory, and the sale of the asset has already taken place. The work had a slight extra cost, which has been more than compensated with a higher sale price than the estimate.

The liquidation process has already started. These types of processes are not automatic and the steps and milestones established by the Capital Companies Law must be respected.

When the originator estimates the duration of the projects, the originator usually anticipates 2-3 months from the moment the work is finished until the effective settlement of the investment. In this case, the promoter is currently working with his agency on the first of the steps, the formulation of the aforementioned liquidation balance.

The originator's current scenario is that bearing in mind that we are entering the Easter period, the originator will be in a position to transfer the funds to investors at the end of April. The return on investment, in the absence of confirmation and definitive adjustment, should be around 20% of the invested capital, in a total period of 8 months from the moment the originator closes the operation (compared to the estimated 15 months).

Update from the originator:

A new document about project progress has been added to the documents section.