13/2020 - Conclusion of an annex to the Agreement Between Creditors of 13 June 2019

In reference to the following Current Reports of Trakcja PRKiI S.A. (“Company”) no. 12/2019 of 13 June 2019 on the conclusion of agreements on bridge financing, no. 20/2019 of 24 June 2019 regarding the signing of annexes to the bridge financing documentation, no. 20/2019 of 26 June 2019 regarding the amendment of the Current Report no. 20/2019 of 24 June 2019, no. 24/2019 of 27 June 2019 regarding the signing of an annex to the Agreement Between Creditors, no. 33/2019 of 30 July 2019 regarding the signing of annexes to the bridge financing documentation, no. 41/2019 of 30 August 2019 regarding the signing of an annex to the Agreement Between Creditors, and no. 51/2019 of 27 September 2019 regarding the conclusion of multiple agreements on long-term financing and amendments of the bridge financing documentation, the Management Board of the Company hereby informs that on 7 May 2020 the Company signed an annex to the unified Agreement Between Creditors of 13 June 2019 as further amended (“Agreement Between Creditors”) with the Company’s subsidiaries: Bahn Technik Wrocław sp. z o.o., PRK 7 Nieruchomości sp. z o.o., Przedsiębiorstwo Drogowo Mostowe “Białystok” S.A., Przedsiębiorstwo Produkcyjno-Usługowe “DALBA” sp. z o.o., Torprojekt sp. z o.o., Przedsiebiorstwo Eksploatacji Ulic i Mostów sp. z o.o., as well as Bank Gospodarstwa Krajowego, Agencja Rozwoju Przemysłu S.A., mBank S.A., Credit Agricole Bank Polska S.A., Bank Polska Kasa Opieki S.A., AXA Ubezpieczenia Towarzystwo Ubezpieczeń i Reasekuracji S.A., Credendo – Excess & Surety Societe Anonyme, operating in Poland through: Credendo – Excess & Surety S.A. Branch in Poland, Sopockie Towarzystwo Ubezpieczeń ERGO Hestia S.A., Korporacja Ubezpieczeń Kredytów Eksportowych S.A., Generali Towarzystwo Ubezpieczeń S.A., Powszechny Zakład Ubezpieczeń S.A., UNIQA Towarzystwo Ubezpieczeń S.A., and COMSA S.A.U. (”Annex to the Agreement Between Creditors”).

Pursuant to the Annex to the Agreement Between Creditors, the company Trakcja Ukraina spółka z ograniczoną odpowiedzialnością – the Company’s subsidiary – became a party to the Agreement Between Creditors; additionally, amendments were introduced to the Agreement to account for the rules of cooperation between the parties in connection with the planned issue of bonds convertible to the Company’s shares, which are to be subscribed by COMSA S.A.U., as notified by the Company in the Current Report no. 51/2019 of 27 September 2019 (“COMSA’s Convertible Bonds”). In particular, pursuant to the Annex to the Agreement Between Creditors, claims under COMSA’s Convertible Bonds shall be subordinated to the repayment of financial liabilities related with the existing financing for the Company, and cannot be repaid before the full, complete and unconditional repayment of any and all such liabilities, the expiry of obligations of creditors being a party to the Agreement Between Creditors to provide the funds or issue guarantees based on relevant financing documents, as well as the expiry of all guarantees issued on the basis of relevant financing documents. Simultaneously, the parties agreed that COMSA’s Convertible Bonds can be converted to the Company’s shares, without consent of creditors and regardless of any subordination, based on the conditions defined in the terms of issue of COMSA’s Convertible Bonds. No amendments were made to any other material provisions of the Agreement Between Creditors.

Legal basis: Article 17.1 of the Market Abuse Regulation (MAR)