The agreement made by and between TIM SA, 3LP SA and mLeasing Sp. z o.o.

Date

2017-06-14

Current report no.

23/2017

1. the agreement on conditional acquisition of rights and obligations under the leasing agreements concluded by and between TIM SA, 3LP SA and mLeasing sp. z o.o., as of 14.06.2017, under which TIM SA undertook to take over the rights and obligations arising from the above leasing agreements, in case 3LP SA is in arrears with the payment of at least two lease instalments, provided that the total liability of TIM SA under the above agreements is limited to the amount of PLN7,000,000.00 _ in words: seven million PLN_. TIM SA was notified on signing by mLeasing Sp. z o.o. of the above agreement on 14.06.2017,
2. a promissory notes guaranteed by TIM SA, provided that the total amount of the guarantee by TIM SA is limited to the amount of PLN7,000,000.00 _ in words: seven million PLN_,
3. a contractual joint mortgage up to the amount of 29,121,604.58 _ twenty-nine million one hundred and twenty-one thousand six hundred and four and 58/100 PLN _ established by a notarial deed on real property owned or remaining in perpetual use by 3LP SA,
4. the assignment of rights to compensation from the property insurance policy included in the land and mortgage register No. WRO1O / 00061572/9, built-up with an office building,
5. the assignment of receivables under the Logistics Services Agreement of 01.07.2016 concluded by and between 3LP SA and TIM SA confirmed by TIM SA,
6. a guarantee deposit in the total amount of PLN 2,294,271.00, due within 5 calendar days after the date of concluding the leasing agreement, not later than on the date of the financing party’s commitment to the supplier due to the acquisition of the leased asset, to the account intended for the preliminary payment. In the remaining scope, the agreements include the provisions typical for this type of agreements.

At the same time, the Management Board of TIM SA announces that on 14.06.2017 it was notified on signing by mLeasing sp. z o.o. of annexes to the existing Agreements on the conditional acquisition of rights and obligations under the lease agreements concluded by and between TIM SA, 3LP SA and premium SP. z o.o. Pursuant to the above annexes, the total value of guarantees by TIM SA for the above agreements has been reduced to the amount of PLN14,670,629.34 _ in words: fourteen million six hundred and seventy thousand six hundred and twenty-nine and 34/100 _. The reduction to the total amount of PLN14,670,629.34 _ in words: fourteen million six hundred and seventy thousand six hundred and twenty-nine and 34/100 _ shall also apply to the value of the guarantee by TIM S.A. of its own promissory notes filed as a security for the above effective agreements.

The agreements referred to above are successive agreements concluded in the said regard by 3LP SA and TIM SA with mLeasing sp. z o.o.. TIM SA informed about the previous agreements in current statement No. 37/2016 published on 18.07.2016, in current statement No. 51/2016 published on 25.11.2016 r and in current statement No. 6/2017 published on 28.02.2017.

The value of the assets _i.e. the equipment of the Logistics Centre in Siechnice_ under the previously concluded agreements by and between TIM SA, 3LP SA and mLeasing Sp. z o.o. on the purchase and lease of the equipment of the Logistics Centre in Siechnice amounts to PLN39,558,699.58  NET _ in words: thirty-nine million five hundred and fifty-eight thousand six hundred and ninety-nine and 58/100 PLN_.

The total value of TIM SA guarantee for the above agreements amounts to PLN 21 670 629.34 _ in words: twenty-one million six hundred and seventy thousand six hundred and twenty-nine and 34/100 PLN_.

The Management Board of TIM SA indicates that the above information has been considered confidential within the meaning of the definition set out in Article  7 MAR due to the fact that the total amount of the potential liability of TIM SA towards mLeasing sp. z.o.o. arising from the fact of the above guarantee for the agreements may have an impact on the future financial results of TIM SA.