Annexes to loan agreements

The Board of Directors of Przedsiębiorstwo Przemysłu Spożywczego “PEPEES” S.A. (“the Company”, “the Issuer”) hereby notifies about signing, on 29 August 2016, an annex to the multi-purpose credit line agreement dated 19 August 2015 concluded with Bank BGŻ BNP Paribas S.A. (“Annex to the Multi-Purpose Agreement”), and an annex to the multi-line agreement dated 7 October 2014 concluded with Bank Zachodni WBK S.A. (“Annex to the Multi-Line Agreement”). 
The Company informed about the conclusion by 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”), of the agreement with Bank BGŻ BNP Paribas S.A., in current report No. 21/2015, and the Issuer informed about the conclusion, by the same aforementioned entities, of the agreement with Bank Zachodni WBK S.A. and subsequent annexes to this agreement, in current report No. 26/2014 and in subsequent current reports concerning this issue.
Pursuant to the Annex to the Multi-Purpose Agreement, the credit limit granted to the Issuer and its subsidiaries has been increased to PLN 45 million in such a way that the revolving loan granted to the Issuer, Lublin and Bronisław now amounts to PLN 10 million, PLN 3 million and PLN 3 million respectively, and the non-revolving loan granted to Lublin and Bronisław now amounts to PLN 1.5 million and PLN 8 million respectively. As regards the overdraft, the annex does not introduce any changes. In addition, pursuant to the Annex to the Multi-Purpose Agreement, an additional security for the loan agreement concluded with Bank BGŻ BNP Paribas S.A. has been established in the form of a blank promissory note issued by each of the aforemenioned borrowers, and the contractual joint mortgage has been increased to PLN 68.25 million. In addition, the Annex to the Multi-Purpose Agreement extended the period of the availibility of the aforementioned loans until 31 August 2017; however, the lending period has not changed and remains until 19 August 2025.
On the other hand, pursuant to the Annex to the Multi-Line Agreement, the credit limit granted to the Issuer and its subsidiaries has been increased to PLN 45.5 million in such a way that the revolving loan granted to the Issuer, Lublin and Bronisław amounts now to PLN 10 million, PLN 3 million and PLN 3 million respectively, and the revolving loan granted to Lublin and Bronisław amounts now to PLN 1.5 million and PLN 8 million respectively. As regards the overdraft, the annex does not introduce any changes. In addition, pursuant to the Annex to the Multi-Line Agreement, an additional security for the loan agreement concluded with Bank Zachodni WBK S.A. has been established in the form of a statement by each of the aforementioned borrowers on the submission to execution, and, at the same, the blank promissory note was abandoned as one of the securities for this loan agreement. Furthermore, the Annex to the Multi-Line Agreement postponed the repayment date of all aforementioned loans concluded with Bank Zachodni WBK S.A until 31 August 2017. 
The remaining material terms and conditions of the Multi-Purpose Agreement and of the Multi-Line Agreement have not changed.