Current Report No. 44/2014

Date of preparation: 14 November 2014 

Topic: Conclusion by ENERGA Group of annex to material agreement with European Bank for Restructuring and Development

Legal grounds: Article 56 section 1 point 2 of the Act on Offerings – current and periodic information

The Management Board of ENERGA SA with its seat in Gdańsk (‘ENERGA SA’, ‘Issuer’, ‘Company’) announces that on 13 November 2014 ENERGA SA with its direct subsidiary ENERGA-OPERATOR SA concluded an annex to the loan agreement with the European Bank for Reconstruction and Development (‘EBRD’) of 29 April 2010. The loan with its original value of PLN 800 million (say: eight hundred million zlotys) was granted for the purpose of financing investment expenditures of the ENERGA Group related to the expansion and modernization of distribution grid. The above mentioned financing has been fully utilized and as at 30 September 2014 the amount of PLN 595.8 million remains to be repaid. The agreement was described in the Company’s Issue Prospectus, approved by the Polish Financial Supervision Authority on 15 November 2013. 

The annex increases available financing by PLN 275.8 million and extends by three years the final maturity date to 18 December 2024.

The agreement dated 29 April 2010, to which the above mentioned annex has been concluded, is the only agreement signed within last 12 months between the ENERGA Group and EBRD, with a value of PLN 1,075.8 million (say: one billion seventy five million eight hundred thousand). The agreement meets a criterion of a material agreement, i.e. its value exceeds 10% of the Issuer’s equity.

Legal grounds:

§5 section 1 point 3 of the Minister of Finance Decree dated 19 February 2009 on current and periodic information disclosed by issuers of securities and conditions for recognizing as equivalent information required by the laws of a non-member state.