Current report no. 36/2017 (30.08.2017)

Title:

Conclusion of credit agreements by the subsidiary

Legal basis:

Art. 17 sec. 1 Market Abuse Regulation

Message:

The Management Board of the Issuer hereby informs that, in connection with the selection of the offer of the subsidiary URSUS BUS S.A. with the seat in Lublin for execution of contracts of delivery of urban transport vehicles – buses and trolleybuses – to Lublin, Środa Śląska and Łomianki, the Issuer, with a view to further development of the subsidiary, accessed to debt of the company URSUS BUS S.A. resulting from the credit agreements concluded by z URSUS BUS S.A. on the 28th August 2017 with Bank Ochrony Środowiska S.A. with the seat in Warsaw in the total amount 43.245.742 PLN.

The liability of the Issuer in favour of the subsidiary URSUS BUS S.A. is one of the securities of the credit agreements of the company with BOŚ S.A., intended to finance its operation and execution of the won tenders.

The capital repayment within the credit agreements of the company URSUS BUS S.A. in the amount of 8.190.912 PLN shall be made in a single term till the 31 December 2017 and in the amount of 35.054.830 PLN till the 31 July 2018.

The provisions of the above-mentioned credit agreements concluded by URSUS BUS S.A. with Bank Ochrony Środowiska S.A. do not differ from conditions commonly used for such type of agreements.