78/2011 - Information about termination of the credit agreements with the Issuer's subsidiaries

The Management Board of Trakcja - Tiltra S.A. (the “Company”) hereby announces that today, it was informed about termination of the credit agreements with Polidim S.A. with its registered office in Tarnow (“Poldim”) and Silentio Sp. z o.o. with its registered office in Warsaw (“Silentio”) by Bank Polska Kasa Opieki S.A., with its registered office in Warsaw (only with Poldim) and Raiffeisen Bank Polska S.A. with its registered office in Warsaw. Therefore, after expiry of the notice periods, Poldim and Silentio shall be required to repay to the Banks the entire debt plus interest. Description of terminations of the agreements:

1. Termination of credit agreement No 1/2011/PCK/D/RB, on 9 December 2011, with Poldim, upon 7-day notice period, by Bank Polska Kasa Opieki S.A. The amount of debt plus interest payable as at 9 December 2011 is PLN 19,874,050.47 (nineteen million eight hundred seventy four thousand fifty zlotys 47/100). The reason for termination is loss of creditworthiness and bankruptcy risk of Poldim.
2.  Termination of credit agreement No. CRD/33591/10, on 16 December 2011, with Poldim, upon 7-day notice period, by Raiffeisen Bank Polska S.A. The total amount of debt plus interest payable as at 13 December 2011 is PLN 13,425,827.64 (thirteen million four hundred twenty five thousand eight hundred twenty seven zlotys 64/100). The reason for termination is a significant worsening of the economic and financial situation of Poldim in relation to the state as known to the bank at the time of concluding the agreement, and significant deterioration of prospects of further development of Poldim.
3. Termination of credit agreement No. CRD/33540/10, on 16 December 2011, with Poldim, upon 7-day notice period, by Raiffeisen Bank Polska S.A. The total amount of debt plus interest payable as at 13 December 2011 is PLN 18,083,094.90 (eighteen million eighty three thousand ninety four zlotys 90/100). The reason for termination is a significant worsening of the economic and financial situation of Poldim in relation to the state as known to the bank at the time of concluding the agreement, and significant deterioration of prospects of further development of Poldim.
4. Termination of Debt Limit Agreement No. CRD/L/34787/11, on 16 December 2011, with Poldim, upon 7-day notice period, by Raiffeisen Bank Polska S.A. The reason for termination is a significant worsening of the economic and financial situation of Poldim in relation to the state as known to the bank at the time of concluding the agreement, and significant deterioration of prospects of further development of Poldim.
5. Termination of Credit Agreement No. CRD/32322/10. The amount of debt payable as at 16 December 2011 is PLN 30,633,000.00 (thirty million six hundred thirty three thousand zlotys) plus the interest due. The reason for termination is a significant worsening of the economic and financial situation of Silentio in relation to the state as known to the bank at the time of concluding the agreement, and significant deterioration of prospects of further development of Silentio.

Legal basis: Article 56 paragraph 1 point 1 of the Act of 29 July 2005 on Public Offering, Conditions Governing the Introduction of Financial Instruments to Organised Trading and Public Companies (Journal of Laws No. 184, item 1439 as amended)