Alma – delicatessen

Significant agreement

Report number: RB 04/2016   Report created: 2016-02-19  

The Management Board of Alma Market S.A. (the "Company") hereby announces that on 19th February, 2016 three annexes to loan agreements dated on 24 September 2007, 4 March 2010 and 27 June 2013 have been signed with Powszechna Kasa Oszczędności Bank Polski S.A. with its registered seat in Warsaw (the "Bank"). As a result, the amount of all contracts concluded by the Company and its subsidiaries with the Bank within last 12 months, that the Company has not previously informed in other current reports, meets the criterion of a significant agreement.

The agreement of the largest value which was concluded with the Bank is an annex to multi-purposed credit agreement dated on 19th February, 2016 with the amount of PLN 48,9 million. The annex extended the loan repayment period to 26th June, 2017. The loan bears interest at a variable interest rate WIBOR for one-month interbank loans in PLN increased by the Bank’s margin. The loan is secured by blank bill of exchange issued by the Company, joint capped mortgage, registered pledge on fixed assets and inventory of commercial goods with assignment of rights under the insurance contract, the agreement on transfer of receivables, agreement for financial and registered pledge in a current account with a statement of submission to enforcement. Other provisions of the contract does not diverge from those commonly used by the Bank for such agreements.

The value of all contracts concluded with the Bank within the last 12 months by the Company and subsidiary companies amounts to PLN 113 million.

The criterion for recognizing the contract as a significant is that the total value of contracts concluded with the Bank in last 12 months exceeds 10% of Alma Market S.A.'s equity.