Conclusion of the annex to the Credit Facility Agreement

In reference to the information presented in current report no 29/2019 on the Credit Facility Agreement concluded with Santander Bank Polska S.A. [the Bank], the Management Board of Przedsiębiorstwo Przemysłu Spożywczego PEPEES S.A. [the Company, the Issuer] informs that on 17 July 2020 another annex was concluded to the Multiple Credit Line Agreement concluded between the Issuer and its subsidiaries, that is Zakłady Przemysłu Ziemniaczanego "Lublin" Sp. z o.o. [Lublin] and Przedsiębiorstwo Przemysłu Ziemniaczanego Bronisław S.A. [Bronisław] and the Bank [the Annex].
Under the Annex to the Multiple Credit Line Agreement, the credit limit granted to the Issuer and its subsidiaries was raised up to PLN 58.5 million in such a way that the working capital credit granted to the Issuer, Lublin and Bronisław amounts now to PLN 17 million, PLN 2 million and PLN 8.5 million respectively, and it shall be repaid in equal monthly instalments starting from January 2021, the revolving credit in the amounts of PLN 14.5 million, PLN 4 million and PLN 6.3. million respectively, and starting from February 2021 the revolving credit limits will be reduced gradually every month, and a current credit in the amounts of PLN 4 million, PLN 1.5 million and PLN 0.7 million respectively.
Moreover, the Annex to the Multiple Credit Line Agreement postponed the repayment day until 31 August 2021.
The other terms and conditions of the Multiple Credit Line Agreement were not subject to significant modifications that would deviate from standard provisions included in such types of agreements.