Current report no. 28/2016 (2016-08-03)
Title:
Closing of the forward exchange transactions with mBank S.A. and Bank Polska Kasa Opieki S.A.
Legal basis:
Art. 17 sec. 1 Market Abuse Regulation
Message:
The Management Board of URSUS S.A. hereby informs that on the 2nd August 2016 the Issuer settled the forward sales transactions in the total amount 55.000.000 USD concluded with mBank S.A. and Bank Polska Kasa Opieki S.A., i.e.
- the amount of 5.000.000 USD at the forward exchange rate 3,8980 PLN,
- the amount of 5.000.000 USD at the forward exchange rate 4,0425 PLN,
- the amount of 10.000.000 USD at the forward exchange rate 3,9958 PLN,
- the amount of 10.000.000 USD at the forward exchange rate 4,0155 PLN,
- the amount of 10.000.000 USD at the forward exchange rate 4,0425 PLN,
- the amount of 5.000.000 USD at the forward exchange rate 4,0430 PLN,
- the amount of 5.000.000 USD at the forward exchange rate 3,9235 PLN,
- the amount of 5.000.000 USD at the forward exchange rate 3,8530 PLN,
as a result of which the Company will receive at its bank account the equivalent of the difference in valuation of 55.000.000 USD between the exchange rate of the transaction date and the forward rate of the settlement date, i.e. the amount of 6.949.000 PLN.
The above transactions were settled before their execution date which should be in III and IV quarter 2016.
According to the Individual Reporting Standard of URSUS S.A., adopted by the issuer with reference to the reporting obligations resulting from the Market Abuse Regulation, the above-mentioned transactions are considered to be material due to the fact that their value a exceeds 10% of the equity of the Issuer’s Capital Group.
All exchange transactions of the Issuer are executed in accordance with the Financial Risk Management policy assumed by the Issuer, within the Integrated Financial Risk Management System implemented in the Company and are related to the exposure resulting from the Company’s contracts settled in foreign currencies.
