Accession of subsidiaries to the Facilities Agreement

Date: 
27 May 2016

The Management Board of Cyfrowy Polsat S.A. (the “Company” or “Cyfrowy Polsat”) hereby announces that on 27 May 2016 its subsidiaries Litenite Limited with its registered office in Cyprus (“Litenite”) and Midas S.A. (“Midas”, together with Litenite: the “Subsidiaries”) acceded to the Senior Facilities Agreement of 21 September 2015 (as amended), the parties to which are, among others, Cyfrowy Polsat, Polkomtel sp. z o.o., a subsidiary of Cyfrowy Polsat, and other members of the group to which the Company belongs (the “Facilities Agreement”) and to the related Intercreditor Agreement (“Intercreditor Agreement”). The Company already notified of the Facilities Agreement in its Current Reports No. 42/2015 of 21 September 2015 and No. 3/2016 of 29 January 2016.

Midas has acceded to the Facilities Agreement as an Additional Borrower and Additional Guarantor and to the Intercreditor Agreement as a Debtor, while Litenite has acceded to the Facilities Agreement as an Additional Guarantor and to the Intercreditor Agreement as a Debtor.

The Subsidiaries have acceded to the Facilities Agreement and the Intercreditor Agreement based on the Accession Deeds executed on 23 May 2016. The accession became effective on 27 May 2016 when certain conditions provided for in the Facilities Agreement were satisfied by the Subsidiaries.

In connection with the accession of the Subsidiaries to the Facilities Agreement and the Intercreditor Agreement, the Company has established security over the Company’s assets of a significant value as the Company has announced in its Current Report No. 13/2016 of 23 May 2016.

The Facilities Agreement is deemed material because its value exceeds 10% of the Company group’s consolidated revenues for the last four accounting quarters.

Legal basis: Article 56 Section 1 Clauses 1 and 2 of the Act of 29 July 2005 on Public Offering, Conditions Governing the Introduction of Financial Instruments to Organized Trading, and Public Companies in conjunction with § 5 Section 1 Clauses 3 and 7 of the Ordinance of the Minister of Finance of 19 February 2009 on current and periodic information released by the issuers of securities and the conditions of accepting as equivalent of information required by the laws of a non-member state.

Attached files: 
Category: 
Report Number: 
15/2016
Last updated 05/30/2016