RB: 80/2018
Date: 16 October 2018
Loan agreement in 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 seat in Warsaw (the “Issuer”) informs that on 16 October 2018 a loan agreement ("Loan agreement") was concluded between the Issuer (“Lender”) and Benefit Systems International sp. z o.o. with its registered office in Warsaw ("Borrower"), in which the Issuer holds 100% stake, in the amount of PLN 12.5 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 30.4 million.

The loan amount will be distributed in one tranche 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 December 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.