24/2019 – The conclusion of a credit agreement by the Company for the purchase of the Company’s shares by the Company as part of the call, based on which a credit and guarantee were granted to the Company.

24/2019

The Management Board of Boryszew S.A. (“the Company”), acting under art. 17 para. 1 of the MAR Regulation, hereby publicizes confidential information regarding the conclusion by the Company as a guarantor a credit agreement, based on which Impexmetal S.A. was received a credit and a guarantee.

The Management Board of the Company provides the information regarding the conclusion of a credit agreement (“the Agreement”) by the Company as the guarantor, Impexmetal as the borrower and HSBC France (Spółka Akcyjna) Poland Branch as the creditor, based on which the following were granted to Impexmetal: (I) a guarantee up to the amount of 270 million PLN and (ii) a term credit up to the amount of 270 million PLN, intended for financing the payment of the price of the Company’s shares purchased by Impexmetal as part of the call.

The deadline for the payment of the credit mentioned above was established to be 28 months after the conclusion of the Agreement.

Due to the conclusion of the Agreement, as a form of the Bank’s collateral for the receivables resulting from the Agreement, on May 16th, 2019, Impexmetal entered into the following with the Bank: (I) the agreement for registered pledges on Impexmetal’s shares which will be purchased by Impexmetal as part of the call and (ii) the agreement for a registered pledge and financial pledges on the shares of Alchemia S.A. owned by Impexmetal S.A. and the Company concluded an agreement for registered and financial pledges on the shares of Impexmetal S.A. owned by the Company with the Bank. The maximum sum of the collateral from the registered pledges was established to be 495 million PLN. Additionally in order to establish the Bank’s collateral on the receivables resulting from the Agreement, on May 16th, 2019, Impexmetal S.A. concluded an agreement for blocking funds on the cash account held for Impexmetal S.A. by Santander Bank Polska S.A with the Bank and Santander Bank Polska S.A.

The interest rate was set at WIBOR (appropriate for the length of the interest period) increased by the Bank’s margin and compulsory costs (if applicable).

The credit agreement was concluded based on the market conditions.

Pursuant to the provisions of the Agreement, the Company granted a guarantee on the obligations of Impexmetal S.A. resulting from the Agreement.
The remaining conditions of the Agreement, including the provisions concerning the obligations of the Company or Impexmetal S.A., the possible sanctions or possibility to dissolve it or withdraw from it do not differ from the conditions commonly included in these types of contracts.

The legal basis: Art. 17 para. 1 MAR – confidential information

Signatures:
Piotr Lisiecki – 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.