RB 79/2018: Loan agreement within Benefit Systems capital group

RB 79/2018 
Date: 11 October 2018
Loan agreement within Benefit Systems capital group
Legal basis: Art. 17 item 1 of MAR – inside information

Text of the Report:

The Management Board of Benefit Systems S.A. with its registered office in Warsaw (the “Issuer”) informs that on 11 October 2018 the Issuer received a loan agreement dated 11 October 2018 ("Loan agreement"), concluded between the Issuer (“Lender”) and Fit Invest sp. z o.o. with its registered office in Warsaw ("Borrower"), in which the Issuer indirectly holds 100% stake, in the amount of PLN 9.7 million. As a result of this agreement the total value of loans concluded between the Lender and the Borrower in the last 12 months has reached PLN 51.6 million.

The loan amount may be distributed in tranches in accordance with the Borrower's needs. The interest rate on the loan is floating and was determined on market terms. The loan is to be repaid by 31 May 2023. The loan agreement does not include any conditions precedent, conditions subsequent and contractual penalties. Other terms of the Loan Agreement do not differ from those commonly used in this type of agreements.

The loan will enable the Borrower to finance its current operations, including those related to investments in the fitness segment.

DateFirst name and surnamePosition/function
11 October 2018Izabela Walczewska-SchneyderMember of the Management Board
11 October 2018Grzegorz HaftarczykMember of the Management Board

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