Confidential information – Conclusion of an annex to a material agreement, cessation of a material breach of an agreement

With reference to current report no. 92/2013 dated 29 June 2013 regarding infringement by Polimex-Mostostal S.A. (hereinafter referred to as the ‘Company’) of the terms of the agreement concluded with banks and bondholders (hereinafter referred to as ‘Creditors’) specifying the terms of Company funding by the Creditors (hereinafter referred to as the ‘Agreement’), the Management Board of the Company informs that on 4 July 2013 the Company and the Creditors concluded an annex to the Agreement (hereinafter referred to as the ‘Annex’) pursuant to which, inter alia:

 (i)         Creditors expressed their consent to the spreading into monthly instalments of the interests which the Company was obligated to pay on 28 June 2013 and waived their rights arising from a breach of the Agrement by the Company which involved the Company’s failure to pay the aforementioned interests (provided for in current report no. 92/2013) within time stipulated;

 (ii)        banks being a party to the Agreement undertook to make available to the Company until 30 September 2013 the existing operating credits up to the total limits of them despite the occurrence and continuation of a breach of the Agreement;

 (iii)       Creditors undertook that until 30 September 2013 they would not prevent or limit Company’s access to financial resources available on the Company’s accounts despite the occurrence and continuation of the breach of the Agreement. 

As a result of concluding the annex, there ceased to continue to exist the breach of the Agreement of which the Company informed in current report no. 92/2013 dated 29 June 2013. As of the date of this report, there exists no breach of the Agreement.