Current report no. 26/2016 11.07.2016

Title:

Conclusion of annex to the credit agreement with PKO Bank Polski S.A.

Legal basis:

Art. 17 sec. 1 Market Abuse Regulation

Message:

The Management Board of the Issuer hereby notifies that on the 11th July 2016 the Issuer was informed about signing by URSUS S.A. and PKO Bank Polski S.A. with the seat in Warsaw the annex to the credit agreement in the form of credit multipurpose limit concluded on 07.10.2015, as amended, of which the Issuer informed in the current report no. 51/2015.

According to the concluded annex, the credit amount was increased from 15.000.000 PLN to 25.000.000 PLN and the duration of the credit agreement was extended till the 29th May 2019.

The financial means from the increased credit amount will be used by the Company to cover liabilities arising from its operation.

According to the annex provisions, the security for the credit repayment was changed by increasing the amount of contractual mortgage on the Company’s real estate located in Lublin from 22.250.000 PLN to 37.500.000 PLN and increasing the amount of registered pledge on the Company’s stocks from 20.000.000 PLN to 25.000.000 PLN.

Other provisions of the credit agreement, including other security of the Bank’s receivables, remain unchanged.

The above-mentioned agreement is considered to be material due to the fact that its total amount, exceeds 10% of the equity of the Issuer’s Capital Group .