Concluding loan agreements within PHN S.A. Group

Current report No. 5/2015 of January 27, 2015
Tuesday, January 27, 2015

Legal basis:
Article 56.1.2 of the Act on Public Offering - current and periodical information

The management board of PHN (the "Issuer") has announced that on January 26, 2015, one of the Company's subsidiaries - Warszawski Holding Nieruchomości S.A. based in Warsaw ("WHN") - concluded three loan agreements with the Issuer's subsidiaries.

The subject of the concluded agreements is the granting of loans to WHN in the form of revolving limit of a total value of PLN 226 million, including (1) PLN 59 million by Intraco S.A. z based in Warsaw, (2) PLN 47 million by PHN 3 Sp. z o.o. based in Warsaw and (3) PLN 120 million by PHN 4 Spółka z ograniczoną odpowiedzialnością S.K.A. based in Warsaw. The agreements were concluded for a period until December 31, 2018, and their material terms and conditions do not deviate from standard provisions used in such agreements. The interest rate for the loans is the sum of WIBOR 1M interest rate and margin. The agreements do not include provisions about contractual penalties or provisions subject to meeting additional conditions or deadlines.

The total value of loan agreements concluded by WHN exceeds 10% of the Issuer's equity, which meets the criterion of significant agreement.

Legal basis:
Article 5.3 in relation with Article 9 of the Regulation of Minister of Finance of February 19, 2009 on current and periodical information published by issuers of securities and the conditions of recognizing information required by the regulations of non-member states as equivalent (Journal of Laws 2009 No. 33, item 259, as amended).

Signatures of the Company’s representatives:
Artur Lebiedziński – President of the Management Board
Włodzimierz Stasiak – Member of the Management Board for Finance