Date: 21 September 2017
The Management Board of Dino Polska S.A. (“Company”) reports that today, i.e. on 21 September 2017 it adopted a resolution to set up a program for the Company to issue bonds up to the amount of PLN 500,000,000 (“Program”).
In connection with the Program, the Company entered into a dealer agreement, an agency agreement and a custody agreement with mBank S.A.
Under the Program the Company will be able to conduct multiple issues of secured bearer bonds in electronic form (not in paper form) denominated in Polish zloty. The bonds issued under the Program will be offered for purchase pursuant to art. 33 item 2 of the Bond Act of 15 January 2015 (Journal of Laws of 2015, Item 238 as amended).
Decisions to originate subsequent issues under the Program and their amounts will be made based on the Company’s current financing needs. The specific parameters of a bond issue will be determined prior to issuing a given series of bonds. The various series of bonds issued under the Program may contemplate the possibility of registering the bonds in the securities depository run by Krajowy Depozyt Papierów Wartościowych S.A. and of introducing the bonds to be traded in the alternative trading system run by Warsaw Stock Exchange S.A. or BondSpot S.A.
The Program’s objective is to diversify the sources of funding the Company’s operations and optimize finance costs. The Program will not affect the Company’s current targets regarding the overall level of net debt to EBITDA.
The cash funds obtained through the Program will be allocated to develop the Company’s operations under its current growth strategy entailing in particular the roll-out of its own supermarket network operating in the proximity segment along with its distribution centers and logistics network.
Legal basis: Article 17 (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.