Current Report No. 7/2015

Changes to conditions of a Major Agreement

Legal basis:Legal basis: Article 56, par. 1, item 2 of the Public Offering Act

The Management Board of ZPUE S.A. in Włoszczowa (hereinafter "Issuer") hereby announces that on 26
March 2015, the Issuer signed an annex to the multi-purpose credit line agreement No. 75 1020 2629 0000
9602 0229 7216 of 05 September 2007 (hereinafter "Agreement") with Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna with its registered office in Warsaw ("Bank"), as notified by the Issuer in the Current Reports No. 33/2007, No. 28/2010, No. 32/2010, and No. 48/2012.
Pursuant to the Annex in question, the following material terms of the Agreement have been amended:

− the credit limit has been reduced to the amount of PLN 20,000,000.00.

− the collateral securing the repayment of the Bank's claims under the granted loan has been limited to a blank promissory note issued by the Issuer, together with a promissory note agreement, a contractual right to deduct the Bank's claims of under the Agreement with the Issuer's claims, as the holder of the bank accounts at the Bank and the declaration of submission to the bank enforcement procedure up to the amount of debt of PLN 40,000,000.00, thereby forgoing the earlier collateral in the form of mortgages and registered pledge on fixed assets along with transfer of monetary claims under the insurance contract;

− the period prescribed for using the granted credit limit has been shortened to 30 September 2015.

The remaining amendments introduced to the Agreement by the virtue of the Annex pertain to the terms and conditions that do not differ from those generally applied in such agreements.
The Agreement was recognized as significant on the basis of the Issuer's equity value.

distributed by