Current report no. 39/2018 (09.03.2018)

Title:

Conclusion of credit agreements by the subsidiary

Legal basis:

Art. 17 sec. 1 Market Abuse Regulation

Message:

The Management Board of URSUS S.A. hereby informs that the Issuer, with a view of further development of its subsidiary URSUS BUS S.A., on the 9th March 2018 accessed to debt of this company resulting from the credit agreements concluded by URSUS BUS S.A. with Bank Gospodarstwa Krajowego, on the basis of which the subsidiary incurred two credits in the total amount of 108.000.000 PLN. The financial means from the credits in BGK shall be used for financing the current activity of the subsidiary, i.e. production of buses within the tenders won by URSUS BUS S.A. and the Consortium URSUS BUS, composed of the Issuer and URSUS BUS S.A., for delivery of buses to Zielona Góra, Szczecinek, Katowice and Lublin (two contracts).

Accession by the Issuer to the debt of URSUS BUS S.A. is one of the securities of the credit agreements of the company with BGK. The total capital repayment within the credit agreements of the company URSUS BUS S.A. shall be made till the 31st March 2019.

The provisions of the above-mentioned credit agreements concluded by URSUS BUS S.A. with Bank Gospodarstwa Krajowego do not differ from conditions commonly used for such type of agreements.

According to the Individual Reporting Standard of URSUS S.A., the above-mentioned agreements concluded by the subsidiary are considered to be material due to the fact that their total value exceeds 10% of the equity of the Issuer’s Capital Group, presented in the last consolidated financial statement of the Capital Group URSUS published by the Issuer.