Date: 11 February 2019
Body of the report:
The Management Board of Dino Polska S.A. (“Company”) reports that today, i.e. 11 February 2019 two investment loan agreements were executed (“Loans”): i) between the Company and Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna with its registered office in Warsaw, ul. Puławska 15 (“PKO BP SA”) for an amount of PLN 80 million and ii) between Dino Południe Sp. z o.o., a Company subsidiary and PKO BP SA for an amount of PLN 70 million (“Agreements”).
The total value of the Loans is PLN 150 million. These Agreements have been signed to finance the ongoing network rollout of stores run by the Company under the Dino brand and its logistics base.
These Loans were extended in the Polish currency for a period from 11 February 2019 to 11 August 2026.
The interest on the Loans will be set using a a floating interest rate equal to the WIBOR 1M reference rate plus PKO BP SA’s margin.
The collateral for the Loans is as follows: i) contractual mortgages up to PLN 225 million on real estate owned by the Company and Dino Południe Sp. z o.o., developed with the Company’s stores and warehouses; ii) blank promissory notes issued by the borrowers along with promissory note declarations; iii) transfer of cash accounts receivable from insurance agreements for the real estate forming the collateral; and iv) in respect of the agreement signed by Dino Południe Sp. z o.o., a surety under civil law issued by the Company, which after the total utilization of the loan will be replaced by having the Company accede to the debt as a joint and several debtor.
The Company’s Management Board has made the decision to publish the aforementioned information on account of the material total value of the Agreements.
Legal basis: Article 17 Section 1 of Regulation (EC) No 596/2014 of the European Parliament and of the Council 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 – confidential information