Current Report 22/2019

Signing of a significant agreement with Alior Bank S.A.

Only the Polish version of this document is legally binding.
This translation is provided for information only.
Every effort has been made to ensure the accuracy of this publication.

The Management Board of INPRO S.A. (the "Company") with its registered office in Gdańsk informs that on 16 September 2019 the Company signed an annexe to working capital overdraft agreement No. U0003114448309 of 22/09/2016 with Alior Bank S.A. with its registered office in Warsaw ("Alior," the "Bank") (the credit agreement was described in current reports Nos. 24/2016 of 22/09/2016, 25/2017 of 21/09/2017 and 29/2018 of 05/09/2018). Based on the annexe, the PLN 16,000,000 credit term was extended for one month i.e. until 18/10/2019.
This is the so-called technical annexe, that is the extension of the use of funds under the credit agreement until the bank takes relevant decisions, i.e. issues consents to the extension of the credit term for 12 months as requested by the Company. As indicated by the bank, the application for that extension has not been considered yet because of a considerable amount of work at the relevant departments of the bank. The other provisions of the credit agreement and credit availability conditions have not been changed.
The Issuer's significant criterion for agreements is the considerable total value, on the Issuer's scale, of the object of the agreements concluded by the entities belonging to the INPRO Corporate Group with Alior S.A. during the last 12 months, that value being PLN 26,500,000.
Detailed legal grounds: Article 17 para. 1 of the Regulation of the European Parliament and of the Council (EU) No 596/2014 of 16 April 2014 on market abuse (the market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (also referred to as the MAR)