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Conclusion of an annex to the loan agreement

Current Report No. 29/2019

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

With reference to the information contained in current reports Nos. 27/2018 and 18/2017 regarding the loan agreement concluded with Bank Zachodni WBK S.A. (at present: Santander Bank Polska, hereinafter also ‘the Bank’), the Board of Directors of Przedsiębiorstwo Przemysłu Spożywczego PEPEES S.A. (‘the Company’, ‘the Issuer’) hereby informs about signing, on 5 August 2019, of another annex to the multi-line 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 the Bank (‘the Annex’).
Pursuant to the Annex to the multi-line agreement, the credit limit granted to the Issuer and its subsidiaries has been increased to PLN 55.5 million in such a way that the revolving loan granted to the Issuer, Lublin and Bronisław amounts now to PLN 17 million, PLN 2 million and PLN 10 million respectively, the revolving loan to PLN 13 million, PLN 3 million and PLN 5 million respectively, and the overdraft facility to PLN 4 million, PLN 0.75 million and PLN 0.75 million respectively.
In addition, under the Annex to the multi-line agreement, the repayment deadline has been extended to 31 August 2020.
Additionally, pursuant to the Annex, the contractual joint mortgage established as one of the collaterals was reduced to PLN 58.5 million.
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