Resolution of the Management Board on the acceptance of the terms and conditions and signing of an annex to the agreement, as proposed by PKO BP S.A.

The Management Board of Grupa Kęty S.A. (hereinafter referred to as the “Company” or the “Issuer”) informs that on 14 July 2020 it passed a resolution on the acceptance of the borrowing terms and conditions proposed by Powszechna Kasa Oszczędności Bank Polski S.A. (hereinafter referred to as Lender) and signing by the Issuer and its subsidiaries Alupol Packaging S.A., Aluprof S.A., Alupol Packaging Kęty Sp. z o.o., and Romb S.A. (hereinafter referred to as the Borrowers) of an annex to the agreement on overdraft facility in the current account and foreign currency accounts, pursuant to which:

  1. the amount of the total debt limit will be increased for PLN 50 million, to PLN 130 million;
  2. the term of agreement will be extended as well as the term for drawing and repayment of the overdraft till July 2022.

The overdraft amount represents a joint credit limit of the Borrowers, which is intended for the financing of their current operations and is an element of a process related to re-financing of the debt of the Issuer’s Capital Group.

In accordance with the terms and conditions of the agreement, the companies are jointly and severally liable for the said debt. The overdraft is secured with blank promissory notes and promissory note declarations of the Borrowers.