Decision taken by Cyfrowy Polsat S.A. to grant a loan and establish collateral for the execution of Drzeżewo wind farm

Date: 
06 Sep 2022

In view of the fact that:

  • Cyfrowy Polsat S.A (the “Company”) is a party to the preliminary agreement concluded with  ZE PAK S.A. with its registered office in Konin (“ZE PAK”) concerning the Company’s purchase of shares in PAK-Polska Czysta Energia sp. z o.o. with its registered office in Konin (“PAK-PCE”) representing 67% of PAK-PCE’s share capital, of which the Company informed in its current report no. 38/2021 dated 20 December 2021;
  • PAK PCE intends to acquire 100% of shares in the share capital of Eviva Lębork sp. z o.o. (the “Project Company”) in order to construct and operate a wind installation in the form of a group of 23 wind turbines within the commune of Potęgowo, Słupsk county, Pomeranian Voivodeship (the “Drzeżewo Wind Farm”), of which ZE PAK informed in its current report no. 29/2022 dated August 29 2022,

the Management Board of the Company hereby informs that on 6 September 2022 it took a decision to grant sureties or guarantees by the Company for the benefit of a Vestas Group company ("Vestas"),  in order to secure the liabilities of the Project Company resulting from agreement concerning the supply and installation of wind turbines by Vestas (the “Guarantees”). The Guarantees will be established in order to enable the execution of the Drzeżewo Wind Farm. The amount of the Guarantees shall not exceed EUR 73,000,000 (say: seventy three million euro).

Concurrently, the Management Board of the Company decided to grant a loan by the Company to PAK-PCE in the amount not exceeding the equivalent of PLN 160,000,000 (say: one hundred sixty million zlotys) (the “Loan”), which can be disbursed in tranches, in order to enable the execution of Drzeżewo Wind Farm.

 

Legal basis

Article 17 Section 1 of the Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (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

Attached files: 
Category: 
Report Number: 
20/2022
Last updated 09/06/2022