Decision of the Management Board of Aluprof S.A. on the acceptance of the terms of an investment credit agreement, and consent of the Supervisory Board to the agreement conclusion

The Management Board of Grupa Kęty S.A. (hereinafter referred to as the Company or the Issuer) informs that on 22 March 2022, the Management Board of Aluprof S.A. (a subsidiary of the Issuer) made a decision on the acceptance of the terms presented by Bank POLSKA KASA OPIEKI S.A. (hereinafter referred to as the Bank) with regard to a non-renewable investment credit agreement (hereinafter referred to as the Agreement), in the total maximum amount of PLN 150 million, to which a party, apart from Aluprof S.A., are its subsidiaries, i.e. Romb S.A. and Glassprof sp. z o.o. (hereinafter jointly referred to as the Borrowers).

The credit will be rendered available upon the fulfilment of the conditions specified by the Bank, by the date of 31 December 2029. It will be drawn until 31 December 2023 and allocated to financing and refinancing of investment expenditures incurred by the Borrowers in the period from 1 June 2021 to 31 December 2023, as well as the coverage of the costs of transactions.

The credit will be drawn in EUR or PLN. The interest rate on the credit will be variable and calculated in reference to:

a) 3M/6M WIBOR – if the drawing currency is PLN;

b) 3M/6M EURIBOR – if the drawing currency is EUR;

plus the Bank margin.

The Borrowers shall be jointly and severally liable for the debt under the Agreement. The credit repayment will be secured with:

  1. powers of attorney granted to the Bank by each of the Borrowers to dispose of all current accounts of the respective Borrowers kept by the Bank;
  2. blank promissory notes and promissory note declarations issued by each of the Borrowers;
  3. first rank contractual mortgages on the selected real properties, of the minimum value of PLN 100,000,000.00, along with the assignment of rights under the property insurance policies;
  4. first rank registered pledges on fixed assets along with the transfer to the Bank of the rights to indemnity under the pledged assets insurance policies;

subject that the total amount of the mortgages and the registered pledges may not be lower than 120% of the amount of the credit rendered available.

On 22 March 2022 the Supervisory Board of Aluprof S.A. consented to the Agreement conclusion and establishing the credit repayment security measures.