PL

Decision of the Company Management Board on acceptance of the terms and conditions of a loan agreement and conclusion of the agreement

The Management Board of Grupa Kęty S.A. (hereinafter referred to as the Company or the Issuer) informs that on 28 August 2024 it made a decision on the acceptance of the terms proposed by Powszechna Kasa Oszczędności Bank Polski S.A. (hereinafter referred to as the Bank) with regard to a term loan agreement (hereinafter referred to as the Agreement) in the total amount of PLN 350 million as well as conclusion of the Agreement.

The Agreement will be concluded for the period of 3 years. The loan will be paid out in PLN and will be allocated in 100% to the purchase of shares in Selt Sp. z o.o. (hereinafter referred to as Company Taken Over), whereas the Agreement comprises a clause on the possible change of the loan currency to EUR.

Interest rate on the loan will be variable and will be calculated in reference to the base rate of WIBOR or EURIBOR, respectively, plus Bank margin, depending on the value of the net debt/EBITDA ratio.

The security for the loan repayment and other liabilities under the Agreement shall be:

  1. security bond by Aluprof S.A. subsidiary (hereinafter referred to as Company Granting the Security Bond), binding until a security in rem in the form of registered pledge on all movables and property rights making up the enterprise of the Company Taken Over is imposed, or until a security in other form is provided, as agreed with the Bank;
  2. a declaration of the Issuer and the Company Granting the Security Bond on submission to enforcement in the form of a notarised deed, pursuant to Article 777.1.5 of the Act of 17 November 1964 – the Code of Civil Procedure, up to the amount equivalent to 150 % of the loan.

Other terms and conditions of the Agreement do not differ from the generally applicable standards for such agreements.