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Current Report No. 12/2016

03.03.2016 13:45

Information about Bondholders’ Meeting of series TPEA1119 bonds held on 3 March 2016

In reference to current report No. 8/2016 of 10 February 2016 on convening Bondholders’ Meeting of series TPEA1119 bonds for 3 March 2016, the Management Board of TAURON Polska Energia S.A. (“TAURON”, “Issuer’) informs that Bondholders representing 91.44 percent of votes took part in the Bondholders’ Meeting. Thus the Bondholders’ Meeting was unable to adopt resolution concerning amendments to Terms and Conditions of the Bonds’ Issue.

Taking the above into account, the Issuer proposed those who attended the Bondholders’ Meeting to sign, against agreed remuneration, bilateral agreements under which Bondholders who sign these agreements commit irrevocably with respect to the Issuer, to take part in every bondholders’ meeting concerning the Bonds during the term of a given agreement and vote at every bondholders meetings, with all Bonds, against resolution allowing Bondholders to submit to the Issuer a request for early redemption in the event of a breach, i.e. if the debt ratio defined in terms and conditions of the Bond Issue exceeds 3.0x but does not exceed 3.5x, with account being taken of amended definition of financial debt and the principles for calculation of financial ratio included in the agreement. In addition, Bondholders will undertake not to dispose of Bonds until maturity date.

The deadline for submitting signed agreements by Bondholders has been set by the Issuer on 21 March 2016. At the same time the Bondholders who did not attend the Bondholders’ Meeting held today may read the text of the Agreement and sign it before the abovementioned deadline. The text of the Agreement is available at Dentons Europe Oleszczuk sp. k. (“Dentons Law Firm”) (Rondo ONZ 1, 00-124 Warszawa, contact person: Robert Dulewicz, email: robert.dulewicz@dentons.com). To obtain access to the text of the agreement it is required to present at Dentons Law Firm a valid bond deposit certificate pertaining to the Bonds that are subject of the abovementioned agreement.

TPEA1119 series bonds were issued on 4 November 2014 as bearer, uncollateralized, coupon bonds with floating interest rate and nominal value of PLN 100,000 each. There were 17,500 bonds issued. The bonds are dematerialized at the securities depository run by KDPW S.A., assigned code PLTAURN0003 by KDPW S.A. and traded in Alternative Trading System on Catalyst market organized by BondSpot S.A. The maturity date falls on 4 November 2019.

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