Conclusion of an annex to the loan agreement with PKO BP

With reference to the information contained in current report No. 19/2017 regarding the conclusion of a multi-purpose agreement 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 3 August 2018, 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 52 million, and in the case of individual companies: the Issuer – up to PLN 32.5 million; Lublin – up to PLN 12.5 million; and Bronisław – up to PLN 7 million. Within the aforementioned limit, the following loans were granted:
•    overdraft facility: the Issuer – PLN 4 million; Lublin – PLN 0.7 million; and Bronisław – PLN 0.75 million;
•    revolving working capital loan:  the Issuer – PLN 12 million; Lublin – PLN 4 million; and Bronisław – PLN 4.25 million;
•    non-revolving working capital loan: the Issuer – PLN 16.5 million; Lublin – PLN 7.8 million; and Bronisław – PLN 2 million.
The limit was granted until 31 August 2019.
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.