Current report no. 37/2016 (28.10.2016)

Title:

Repayment of the credit agreement with mBank S.A.

Legal basis:

Art. 17 sec. 1 Market Abuse Regulation

Message:

The Management Board of the Issuer informs that on the 28th October 2016 the Issuer received from mBank S.A. with the seat in Warsaw the certificate of full repayment of the working capital credit granted to the Issuer on the basis of the credit agreement concluded on 22.09.2015, of which the Issuer informed in the current report no. 32/2015, with subsequent changes (current reports no. 50/2015, 4/2016, 8/2016, 17/2016 and 18/2016).

The financial means of the credit were used for execution of payments and financing letters of credit for purchase of parts for production of tractors and trailers within the implementation of the contract with The Federal Democratic Republic of Ethiopia Sugar Corporation (ESC) and the annex thereto.

According to the credit repayment schedule, the Issuer made subsequent payments with means received for executed deliveries of the subject of the contract with ESC. The last instalment of the credit in the amount of 2.000.000 EUR was repaid by URSUS S.A. after receiving payment for delivery of the last lot of the subject of the annex to the contract with ESC (current report no. 36/2016).