Body of the report:
The Management Board of Jastrzębska Spółka Węglowa S.A. (“JSW”) hereby reports that on 23 April 2018 an Annex was signed to the Bond Issue Program (“BIP”) Agreement, which the Company reported in Current Report No. 26/2014, entered into with Powszechna Kasa Oszczędności Bank Polski S.A., Bank Gospodarstwa Krajowego, Powszechny Zakład Ubezpieczeń S.A. and Powszechny Zakład Ubezpieczeń na Życie S.A. and Towarzystwo Finansowe Silesia Sp. z o.o. (“Bondholders”), the key elements of which include:
Termination, as of 23 April 2018, of the Bondholder Agreement (“Restructuring Agreement”), which the Company reported in Current Report No. 45/2016, provided that selected provisions of the Restructuring Agreement will be included in the terms and conditions of the bond issue, such as provisions on the distribution of dividends by JSW.
Change in the bond redemption date – the bonds issued under the BIP will be redeemed by 30 December 2019.
Changes in the extent of duties pertaining to additional bond redemptions, including in respect of distributions to JSW employees, subject to the provisions of the BIP.
Deletion of certain provisions restricting spending on investing and operating activities in the JSW Group.
Release of certain security interests, including mortgages and registered pledges established on the assets of JSW’s organized parts of a business (ZORG Borynia and ZORG Budryk).
Legal basis: Article 17 Section 1 of Regulation (EU) No. 596/2014 of the European Parliament and of the Council of 16 April 2014 on Market Abuse 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.