Decision of Cyfrowy Polsat S.A. to establish collateral for the liabilities of Great Wind sp. z o.o. resulting from the agreement to supply and install wind turbines and to grant a loan

Date:

10 Jun 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,
on June 10, 2022 PAK-PCE acquired 100% of shares in the share capital of Great Wind sp. z o.o. (the „Project Company”) in order to construct and operate an on-shore wind installation in the form of a group of 33 wind turbines within the commune of Człuchów, Człuchów county, Pomeranian voivodship, with the potential to construct a photovoltaic farm within the obtained connection capacity of the project (the “Investment Project”), of which ZE PAK informed in its current report no. 21/2022 dated 10 June 2022,

the Management Board of the Company hereby informs that on 10 June 2022 it took a decision to grant sureties or guarantees by the Company to a company of Vestas Group ("Vestas") in order to secure the liabilities of the Project Company resulting from the 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 Investment Project. The amount of the Guarantees shall not exceed EUR 96,000,000 (say: ninety six 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 236,400,000.00 (say: two hundred thirty six million four hundred thousand zlotys) (the “Loan”) in order to enable the execution of the Investment Project.

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:

Current report no. 12/2022 628.48 KB

Category:

Current reports

Report Number:

12/2022

Last updated 06/10/2022

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Decision of Cyfrowy Polsat S.A. to establish collateral for the liabilities of Great Wind sp. z o.o. resulting from the agreement to supply and install wind turbines and to grant a loan

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