Body of the report:
With reference to Current Report Nos. 40/2020, 41/2020 and 42/2020, the Management Board of Jastrzębska Spółka Węglowa S.A. (“JSW” or “Company”) hereby reports that today an intercreditor agreement (“Agreement”) was entered into by and between JSW, Polski Fundusz Rozwoju S.A. (“PFR”) and the Company’s financial creditors that are parties to the agreement of 9 April 2019, the execution of which was announced by JSW in Current Report No. 29/2019.
The signing of the Agreement constitutes the fulfillment of the primary condition precedent for the disbursement by PFR of a PLN 1 billion liquidity loan granted to the Company under the agreement of 9 December 2020, the execution of which was announced by JSW in Current Report No. 41/2020.
The signing of the Agreement also constitutes the fulfillment of the primary condition precedent for the disbursement of funds under the PLN 173.6 million preferential loan the granting of which was announced by the Company in Current Report No. 42/2020. The preferential loan agreement should be signed immediately after its wording has been agreed upon.
Legal basis: Article 17(1) of Regulation (EU) No. 596/2014 of the European Parliament and of the Council of 16 April 2014 on Market Abuse 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