Current Report 27/2015

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, with reference to current report No. 25/2015 of 25 June 205 regarding the signing by a subsidiary, Hotel Mikołajki Sp. z o.o. (the "Borrower") with its registered office in Gdańsk, of annexe No. 4 to an agreement of a considerable value with Powszechna Kasa Oszczędności Bank Polska S.A. with its registered office in Warsaw (the "Bank"), informs that on 25 June 2015 the Management Board of INPRO S.A. on the basis of that annexe granted Hotel Mikołajki Sp. z o.o. a surety under civil law for the value exceeding 10% of the Company's equity.
The surety is a legal security for the repayment of investment credit under agreement No. 59 1020 1811 0000 0796 0048 7611 of 05/09/2011 as amended, on the basis of which the Bank granted Hotel Mikołajki a credit in the amount of PLN 36,214,000.00 for the partial financing of the construction of the hotel and apartment complex in Mikołajki.
The surety comprises the liabilities under the above-mentioned credit agreement up to the sum of PLN 28,517,303.81 and is irrevocable and valid sine die, and the final deadline for the repayment of the credit agreement is 31/12/2027.
In consideration for granting the credit agreement security in the form of a surety under civil law the Company will be entitled to remuneration at 0.3% per annum of the value of the credit debt as at the last day of the year preceding the calendar year for which the payment is due.
INPRO S.A. holds 100% of shares in Hotel Mikołajki Sp. z o.o. and 100% of votes at the General Meeting.

Detailed legal grounds: § 5 par. 1 item 7 of the Regulation of the Minister of Finance of 19 February 2009 on current and periodic information submitted by the issuers of securities and on the conditions for regarding information required by the law of a non-member state as equivalent (Dz. U. [Journal of Laws] of 2009, No. 33, item 259 of 28 February 2009, as amended)