34/2015 - Conclusion of an annex to the material credit agreement by a subsidiary

In relation to current reports no. 1/2014 of 10 January 2014 and no. 25/2014 of 3 October 2014, the Management Board of Trakcja PRKiI S.A. (“Company”) hereby informs that today the Company became aware of the fact that the Issuer’s subsidiary, AB Kauno tiltai in Kaunas (Lithuania) has signed an annex (“Annex”) to the material credit agreement no. KL 06/03/01 of 30 March 2006 (“Agreement”).

The Parties to the Agreement are:

1. Nordea Bank AB (former Nordea Bank Finland Plc), operating through Nordea Bank AB Branch in Lithuania (former Nordea Bank Finland Plc Branch in Lithuania) and AB DNB bankas

and

2. AB Kauno tiltai.

Pursuant to the provisions of the Annex, AB Kauno tiltai shall grant an additional credit in the amount of EUR 2,000,000.00 i.e. PLN 8,234,800; an overdraft was granted in the amount of EUR 4,000,000 i.e. PLN 16,469,600; the revolving credit limit was decreased to EUR 14,000,000.

In addition, pursuant to the Annex, the current loan repayment and guarantee maturity dates are as follows:

1. 14 January 2020 for the additional credit in the amount of EUR 2,000,000.00;
2. 31 August 2017 for the credit line limit in the amount of EUR 14,000,000.00;
3. 31 August 2020 for the guarantee line limit in the amount of EUR 55,000,000.00;
4. 30 June 2017 for the overdraft in the amount of EUR 4,000,000.00.

Material terms of the Agreement shall not deviate from the generally applicable terms for such Agreements.

The criterion for recognizing the concluded Agreement as material shall be the fact that it has exceeded 10% of the Company’s equity.

Legal basis: Section 5 paragraph 1 subparagraph. 3 of the Regulation of the Minister of Finance of 19 February 2009 on current and periodic information published by issuers of securities and conditions for recognizing information required by laws of non-member states as equivalent.