CR 31/2015 The master agreement

The master agreement

Current report no.: 31/2015

Date: 07.07.2015

The Management Board of LPP SA hereby informs that on 7 July 2015 the Company and Bank Polska Kasa Opieki SA signed an annex to the loan agreement (the multi-purpose credit line) signed of 13 August 2004 and the investment loan agreement.

Pursuant to the annex, the total limit of all facilities was set at the amount of PLN 330 mln and the period for the use of individual products has been extended:

1) overdraft facility to the amount of PLN 190 mln – agreement extended by 30 June 2016

2) limit for guarantees granted by LPP SA and its subsidiaries to the amount of PLN 140 mln – agreement extended by 31July 2018

4) limit for the opening of letters of credit to the amount of PLN 330 mln – agreement extended by 30 June 2018

Other terms and conditions have remained unaffected.

Pursuant to the investment loan agreement, the total limit was set at the amount of PLN 60 mln with the purpose for refinancing outlays on reconstruction and expansion of the headquarters of LPP SA.
The crediting period: from 7 July 2015until 30 September 2020year.

The loan is secured:

a) contractual mortgage in the amount of PLN 90 mln;

b) authorization to the bank accounts heldin the bank;

c) a statement of voluntary submission to enforcement by the Borrower;

d) blank promissory note.

The above quoted contracts were concluded on market terms.

The criterion of declaration of the contracts is that the agreements value exceeded 10% of the equity capital of the LPP SA.