Current report no : 22/2014
Report date : 5/27/2014
Abbreviated name : Ciech SA
Subject : Amendment to the terms and conditions of the agreement specifying the terms of issue of foreign debentures.
Legal basis : Art. 56 section 1 point 1 of the Act on Offering - confidential information
Report :
With reference to reports no. 16/2014 and no. 12/2014, the Management Board of Ciech S.A. ("the Issuer" or "the Company"), acting pursuant to Art. 56 section 1 point 1 of the Act Act on Public Offering and Terms and Conditions of Trade of Financial Instruments in the Organized Trading System and on Public Companies, with reference to the agreement of 28 November 2012 ("Indenture") specifying the terms and conditions of issue of secured debentures denominated in Euro, with a maturity date in 2019 ("Foreign Debentures"), which were issued by Ciech Group Financing AB (publ) ("the Issuer of Foreign Debentures"), a special purpose vehicle, being a subsidiary of the Issuer, (the Issuer announced the issue of Foreign Debentures in its report no. 60/2012), hereby announces that on 27 May 2014 it gained knowledge of a conclusion of an agreement between Deutsche Trustee Company Limited as a trustee, the Company and the Issuer of Foreign Debentures - a supplementary agreement to the Indenture ("Supplemental Indenture"). According to the terms and conditions of the Supplemental Indenture, a payment was made for the grant of the consent by the majority of unpurchased Foreign Debenture-holders required under the Indenture.
The Supplemental Indenture covers an amendment to the terms and conditions of the Indenture, including the extension of the deadline within which Ciech S.A. should ensure that S.C. Uzinele Sodice Govora - Ciech Chemical Group SA meets certain requirements concerning net assets from 28 May 2014 to 31 December 2016.
The Management Board of the Issuer also announces that, with reference to the coming into force of the Supplemental Indenture, the unpurchased Foreign Debentures-Holders may not request the buy-out of the Foreign Debentures upon the lapse of the deadline originally set for the meeting of the requirements specified above.
Signatures of the Company’s Representatives : Andrzej Kopeć – Member of the Management Board, Artur Osuchowski – Member of the Management Board
