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Current Report No. 16/2016

22.03.2016 09:00

Information about agreements signed with Bondholders of series TPEA1119 Bonds

As an update to current report No. 12/2016 of 3 March 2016 concerning meeting of Bondholders of series TPEA1119 bonds held on 3 March 2016 the Management Board of TAURON Polska Energia S.A. (“TAURON”, “Issuer”) informs that in execution of the proposal presented to the Bondholders at that meeting, until 21 March 2016 agreements were signed with Bondholders representing 6 937 Bonds of TPEA1119 series which constitute 39.64 percent of total nominal value of all series TPEA1119 Bonds (“Bonds”) and entitles to 39.64 percent of votes resulting from all Bonds. Each of the Bondholders who signed the agreement assumed an irrevocable obligation towards the Issuer that during the term of the agreement they will participate in all Bondholders’ meetings concerning the Bonds and at each Bondholders’ meeting will vote with all Bonds that are subject of the agreement against resolution that would allow Bondholders to demand early redemption in the event of a breach, i.e. if the debt ratio defined in the terms and conditions of the bond issue exceeds 3.0x but does not exceed 3.5x with account being taken of the amended definition of financial debt and the principles for calculation of financial ratio included in the agreement. In addition, Bondholders undertook not to dispose of Bonds until maturity date, except for cases resulting from mandatory regulations of law.

Under the signed agreements, the Issuer will pay each Bondholder who is a party to the agreement a remuneration in the amount of 0.20 percent per year of total nominal value of the Bonds held by the given Bondholder that are the subject of the agreement.

According to the by-laws of the Bondholders’ meeting which form enclosure with the Terms and Conditions of TPEA1119 Bonds Issue, to adopt resolution of the Bondholders’ meeting, presence of Bondholders representing at least 50 percent votes is required. Resolutions are passed with 66 and 2/3 percent of votes of Bondholders present at the meeting. Series TPEA1119 Bonds were issued on 4 November 2014 in the number of 17 500 pcs as bearer, uncollateralized, coupon bonds with floating interest rate and PLN 100 000 nominal value each. The Bonds are dematerialized at the securities depository run by KDPW S.A., assigned ISIN code PLTAURN00037 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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