Concluding Credit Agreements

Date

2015-05-25

Current report no.

16/2015

The Board of TIM S.A. with its registered seat in Wrocław informs that on 25 May 2015 the Company received a copy of Annexe No. 1 of 22 May 2015 to the Credit Agreement No. 09/045/14/Z/VV of 22.05.2015 between mBank S.A. with its registered seat in Warszawa (hereinafter referred to as “the Bank” and TIM S.A. signed by both Parties.

On the basis of the above-mentioned Annexe No. 1 to the Credit Agreement the Bank extended TIM S.A. the bank credit in the amount of PLN 5 million (say: five million zlotys) by 19 May 2016.
Interest rate of the Credit was set as a sum of variable rate of WIBOR for interbank overnight credits and the Bank’s mark-up.
The basis security specified in the Credit Agreement mentioned above, is a contractual mortgage by the amount of PLN 7.5 million (seven million, five hundred thousand) on a land located in Siechnice, plot no. 544/74 subject to perpetual usufruct and on a building on a land in perpetual usufruct, for which the District Court in Oława, 5th Land and Mortgage Register maintains the land and mortgage register No. WR10/00061572/9 (entry of the mortgage in the 1st place), assignment of rights from the insurance policy in the scope of the above-mentioned fixed properties and the Issuer’s representation regarding the voluntary submission to enforcement on the basis of the bank enforcement order.
Current security of the above-mentioned credit was the contractual mortgage up to the amount of PLN 7.5 million entered on the developed property located in Wrocław, ul. Stargardzka 8a for which the District Court in Wrocław maintains the land and mortgage register No. KW WR1K/00095155/3. The Issuer informed about registering the above-mentioned mortgage in a Current Report No. 19/2014 of 27.05.2014 and 26/2014 of 17.06.2014. The bank shall approve deleting the above-mentioned mortgage immediately after presenting the Bank with a copy of a request of mortgage entry to the Bank on the property located in Siechnice, as mentioned above.
The remaining provisions of the Contract do not diverge from the market standards of this type of contracts.
The value of the Contract does not exceed 10% of entity capital of TIM S.A.; however, the mortgage, which is to be established by the Company in respect of the security, is of the value higher than the equivalent of EUR 1,000,000 calculated according to the average exchange rate of the National Bank of Poland.
The Company shall inform about establishing the above-mentioned mortgage with a separate current report published immediately after receiving the decision of the land and mortgage register court regarding the entry to the land and mortgage register, as mentioned above.
Moreover, the Board of TIM S.A. informs that on 25.05.2015 the Company received a copy of the open-end credit agreement No. 09/088/15/Z/LI of 22.05.2015 concluded by and between the Bank and TIM S.A.
On the basis of the above-mentioned agreement the Bank granted TIM S.A. the open-end credit in the amount of PLN 5 million (say: five million zlotys) by 19 May 2016 subject to the terms and conditions specified in the above-mentioned contract.
Interest rate of the Credit was set as a sum of variable rate of WIBOR for one-month interbank credits and the Bank’s mark-up.
The basis security specified in the Credit Agreement mentioned above, is a contractual mortgage by the amount of PLN 7.5 million (seven million, five hundred thousand) on a land located in Siechnice, plot no. 544/74 subject to perpetual usufruct and on a building on a land in perpetual usufruct, for which the District Court in Oława, 5th Land and Mortgage Register maintains the land and mortgage register No. WR10/00061572/9 (entry of the mortgage in the 1st place), assignment of rights from the insurance policy in the scope of the above-mentioned fixed properties and the Issuer’s representation regarding the voluntary submission to enforcement on the basis of the bank enforcement order.
The remaining provisions of the Contract do not diverge from the market standards of this type of contracts.
The value of the Contract does not exceed 10% of equity capital of TIM S.A.; however, the mortgage, which is to be established by the Company in respect of the security, is of the value higher than the equivalent of EUR 1,000,000 calculated according to the average exchange rate of the National Bank of Poland.
The Company shall inform about establishing the above-mentioned mortgage with a separate current report published immediately after receiving the decision of the land and mortgage register court regarding the entry to the land and mortgage register, as mentioned above.

2015-05-25, Artur Piekarczyk – Member of the Board
2015-05-25, Anna Slobodzian-Pula – Member of the Board