Current report no: 17/2022
With reference to current report no. 32/2021 of 30 September 2021 and information in interim report for 2021, the Management Board of Boryszew S.A. (Issuer, Company) advises that on 29 April 2022 the Company and subsidiaries of the Issuer listed below signed an agreement with important a key of the Issuer’s Capital Group (“Client”). The agreement is on the support of restructuring (“Agreement”) of the following companies: Boryszew Kunststofftechnik Deutschland GmbH, Boryszew Oberflächentechnik Deutschland GmbH, AKT plastikářská technologie Čechy, spol. S.r.o. (“BAP Companies”).
Under the Agreement, during the restructuring period, namely until the end of 2023, the Client will participate in costs of restructuring of certain BAP Group Companies.
The conclusion of this Agreement will have a materially positive impact on the performance of BAP Companies.
The condition for BAP Companies to receive support is timely implementation of restructuring measures in accordance with a plan.
The Issuer committed to provide BAP Companies, covered by the Agreement, in the period till 31 December 2023, with financial support to facilitate undisturbed business. Also, when it is necessary to refund money by the Companies to the Client, the Issuer guarantees to the Client their return.
The basic assumption of the restructuring agreement is that the Company and the Client act jointly and severally. The Agreement will become effective upon signature by all parties.
The restructuring process will give BAP Companies operational stability and will improve their market position.
Legal attitude: Article 17 section 1 MAR – Confidential information.
Signatures:
Wojciech Kowalczyk – President of the Management Board
Translation from the original Polish version.
In the event of differences resulting from the translation, reference should be made to the official Polish version.