Current report no.: 5/2018 

Date of preparation: 2018-04-06

Abbreviated name of the Issuer: CIECH S.A.

Subject: Entry into force of the amendment and restatement agreement concerning the senior term and revolving facilities agreement

Legal basis: Art. 17. 1 of the MAR – inside information

Contents of the report:

In reference to current report no. 1/2018 of 9 January 2018 on the conclusion of an amendment to the Facilities Agreement*, the Management Board of CIECH S.A. with its registered office in Warsaw (the “Company” or “Issuer”), herewith informs that in connection with the fulfilment of the conditions precedent and arrangements concerning the entry into force of the SFA Amendment Agreement, the changes to the Facility Agreement, as introduced by the aforementioned annex, became effective today.

The most important changes effected under the SFA Amendment Agreement include:

1. the extension of the maturity of the term and revolving facilities provided under the Facilities Agreement from 25 November 2020 until 31 December 2022; 

2. a change of the outstanding amounts under the term facility provided under the Facilities Agreement by changing the share of the amounts disbursed in PLN and in EUR from PLN 1,045,031.446.54 and EUR 69,673,222.19 to PLN 1,212,519,888.66 and EUR 30,000,000.00, respectively; and

3. a change in the repayment schedule of the term facility provided under the Facilities Agreement by replacing it with depreciation of the term facility amounting to 26.12% of the original amount lent on 30 December 2021 and 26.12% of the original amount lent under the term facility on 30 September 2022, and the repayment of the remaining amount of the term facility on 31 December 2022.

The execution of the SFA Amendment Agreement will not result in a change of the interest rate applicable to the facilities provided thereunder. 

 * In this report, any capitalised terms have meanings assigned to them in current report no. 1/2018 of 9 January 2018.

Legal basis: Article 17.1 of the Regulation of the European Parliament and of the Council (EU) No. 596/2014 of 16 April 2014 on Market Abuse (the Market Abuse Regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (Official Journal of the European Union L No. 173, p. 1) (the “MAR”).

Signatures of individuals representing the company:

Maciej Tybura - President of the Management Board

Artur Osuchowski – Member of the Management Board