Contracting a significant liability and establishing securities on significant assets of The Company – signing of an investment loan agreement for the shares buy-back scheme

The Management Board of Orzeł Biały SA (“The Issuer”, “The Company”) hereby announces that on 23.01.2017  The Issuer concluded with ING Bank Śląski S.A. based in Katowice (hereinafter: „The Bank”) a Multi-Facility Agreement under which The Bank shall extend to The Company a revolving Credit Limit of up to PLN 66,000,000.00 to be used in following forms:

• PLN 36,000,000.00 as  a bank guarantee in PLN,

• PLN 30,000000.00 as a specific investment loan in PLN exclusively earmarked for the share buy-back scheme or for repayment of guarantee claims issued under the Credit Sub-Limit.

The financial terms and conditions under which the Agreement was concluded do not differ from those commonly used in the market for such contracts and are based on WIBOR 1M + bank margin. The maximum term of the Agreement is 31.12.2022.

The legal security granted by ING Bank Śląski SA for the credit line are:

  • registered pledge on plant and machinery, instrumentation, equipment, technical devices;
  • registered pledge on process structures such as chimneys, pipelines, installations, tanks, conduits that are not permanently attached to the land, located on the premises of the Smelter Division of Orzeł Biały at Piekary Śląskie along with the transfer of rights from the insurance policy;
  • mortgage on real estate at Piekary Śląskie (office building) along with the transfer of rights from the insurance policy;
  • mortgage on non-production real estate in Bytom;
  • statement of submission to the enforcement under Art. 777 § 1 Pt. 5 of the Code of Civil Proceedings;
  • registered and financial pledge on a number of shares as held by NEF Battery Holdings S.a.r.l. that  shall be equal to the number of the Company’s repurchased shares and financed through credit funds;
    • registered pledge on receivables from all bank account agreements of the Members of the Orzeł Biały Group.

In accordance with the provisions of the Articles of Association the Management Board obtained on 20.01.2017 the required consent of the Supervisory Board in terms of the sought financing.

Legal basis: Art. 17 Para. 1 MAR at  11.46 a.m.

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