Current Report 15/2015

Only the Polish version of this document is legally binding.

This translation is provided for information only.

Every effort has been made to ensure the accuracy of this publication.

The Management Board of INPRO S.A. (the "Company") with its registered office in Gdańsk informs that on 22 April 2015 INPRO S.A. as the Lender signed annexe No. 1 to the short-term loan agreement with a related entity, Hotel Mikołajki Sp. z o.o. as the Borrower (the "Loan") for the amount of PLN 2,000,000.00 designated for the financing of operating activities.
The loan in question was described in current report No. 8/2015 of 26 February 2015.

Upon request of Hotel Mikołajki Sp. z o.o. of 14/04/2015, on the basis of the annexe, the deadline for the final repayment of the loan was moved from 31/03/2015 to 31/12/2015.
The remaining provisions of the agreement remained unchanged.
The loan agreement does not contain other special conditions deviating from those commonly used in agreements of that kind or provisions pertaining to penalties, whose value would exceed 10% of the value of that agreement or the equivalent of 200,000 euros expressed in zlotys.

INPRO S.A. holds 100% of shares in Hotel Mikołajki Sp. z o.o.
The Management Board obtained approval of the conclusion of the annexe from the Supervisory Board by way of its resolution No. 6/2015.

The Company considers the above-mentioned loan agreement to be significant because its value, together with the other agreements signed with Hotel Mikołajki Sp. z o.o., exceeds 10% of INPRO's equity.

During the last 12 months INPRO S.A. signed agreements for the total amount of PLN 77,369,670.44 with Hotel Mikołajki Sp. z o.o.

The agreement described in current report No. 40/2014 of 7 November 2014 has the greatest value among those concluded within the last 12 months.

In conformity with information in report No. 40/2014, INPRO S.A. signed with a related entity, Hotel Mikołajki Sp. z o.o., annexe No. 3 to agreement No. 4359/2011 of 01/08/2011 for the construction, in the main contracting system, of the Hotel and Apartment Complex in Mikołajki, at Okrężna street and on the Birds' Island. The annexe was concluded following arrangements between the parties about the reduction of the substantive scope of the agreement by way of exclusion from that scope of the works consisting in the redevelopment by the Company of Aleja Spacerowa in Mikołajki. In accordance with the provisions of Annexe No. 3, the following provisions of the agreement were amended:
1) the Contractor's i.e. INPRO S.A.'s remuneration in relation to the works was reduced by the net amount of PLN 195,999.99 net.
2) moreover, in relation to the reduction of the scope of the works, the Contractor's i.e. INPRO S.A.'s remuneration in relation to the performance of the Main Contractor's obligations was changed, namely such remuneration was reduced by the amount of PLN 2,940.00 zlotys net.
3) the Contractor's i.e. INPRO SA's total remuneration in relation to the performance of the Agreement (both for the works and in relation to the performance of the Main Contractor's duties) after signing annexe No. 3 is PLN 70,985,745.44 zlotys net.
The agreement does not contain other special conditions deviating from those commonly used in agreements of that kind or provisions pertaining to penalties, whose value would exceed 10% of the value of that agreement or the equivalent of 200,000 euros expressed in zlotys.
The Company considers the above-mentioned agreement to be significant because its value exceeds 10% of INPRO's equity.

Detailed legal grounds: § 5 par. 1 item 3 of the Regulation of the Minister of Finance of 19 February 2009 on current and periodic information submitted by the issuers of securities and on the conditions for regarding information required by the law of a non-member state as equivalent (Dz. U. [Journal of Laws] of 2009, No. 33, item 259 of 28 February 2009, as amended).

Legal grounds: Article 56 par. 1 item 2 of the Public Offering Act – current and periodic information