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Conclusion of an annex to the loan agreement with PKO BP

Current Report No. 28/2019

Legal basis: Article 17(1) of the Market Abuse Regulation – inside information.

With reference to the information contained in current reports Nos. 28/2018 and 19/2017 regarding the agreement on the limit of a multi-purpose loan concluded with Powszechna Kasa Oszczędności Bank Polski S.A. (‘PKO BP’), the Board of Directors of Przedsiębiorstwo Przemysłu Spożywczego PEPEES S.A. (‘the Company’, ‘the Issuer’) hereby informs about signing, on 5 August 2019, of an annex to the aforementioned agreement concluded between the Issuer and its subsidiaries, i.e. Zakłady Przemysłu Ziemniaczanego "Lublin" Sp. z o.o. (‘Lublin’) and Przedsiębiorstwo Przemysłu Ziemniaczanego Bronisław Sp. z o.o. (‘Bronisław’), and PKO BP (‘the Annex’).
Under the Annex, the credit limit granted to the Issuer and its subsidiaries has been increased to the total amount of PLN 55.5 million, and in the case of individual companies: the Issuer – up to PLN 34 million; Lublin – up to PLN 5.75 million; and Bronisław – up to PLN 15.75 million.
Within the aforementioned limit, the following loans were granted:
• overdraft facility: the Issuer – PLN 4 million; Lublin – PLN 0.75 million; and Bronisław – PLN 0.75 million;
• revolving working capital loan: the Issuer – PLN 13 million; Lublin – PLN 4 million; and Bronisław – PLN 5 million;
• non-revolving working capital loan: the Issuer – PLN 17 million; Lublin – PLN 2 million; and Bronisław – PLN 10 million.
The limit was granted until 31 August 2020.
The remaining terms of the multi-line agreement have not been subject to any significant changes, which would differ from standard provisions used in agreements of this type.

Date Name and surname Position/Function Signature
2019-08-05 Wojciech Faszczewski President of the Board of Directors
2019-08-05 Tomasz Rogala Member of the Board of Directors

Tue 20, August 2019 by: Przemysław Modzelewski