Current Report 25/2020

Registration of a mortgage at real estate owned by Inpro SA 

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") informs that on 03/08/2020 it received a notice of entry by the District Court in Wejherowo, 4th Land and Mortgage Division on 30/07/2020, in division IV of land and mortgage register No. GD1W/00000189/5, of a contractual real estate mortgage on the assets of INPRO S.A. That mortgage constitutes a legal security for the credit granted to the Company by Millennium Bank S.A. with its registered office in Warsaw (the "Bank") on the basis of working capital credit agreement No. 13757/20/408/04 of 22/04/2020 up to the sum of PLN 20,000,000.00.

The Company advised of the conclusion of the credit agreement in current report No. 8/2020 of 23/04/2020.

The mortgage entry was made in division IV of land and mortgage register No. GD1W/00000189/5 and concerns the following:

the contractual real estate mortgage established for the Bank up to the sum of PLN 30,000,000 securing the principal, interest and other costs following from credit agreement No. 13757/20/408/04 of 22/04/2020, encumbering the perpetual usufruct right of INPRO S.A. to real estate covered by the Ostoja project, stage I, located in Rumia, for which real estate the District Court in Wejherowo, 4th Land and Mortgage Register Division, keeps land and mortgage register No. GD1W/00000189/5.

The value of the asset (land) on which the above security was established is, in the books of accounts of INPRO S.A., PLN 3,918,014.78.

There are no connections between the Company, its managers and supervisors and the Bank and its managers.

The Company's Supervisory Board gave consent to the establishment of the above-mentioned mortgage.

Detailed legal grounds: Article 17 para. 1 of the Regulation of the European Parliament and of the Council (EU) No 596/2014 of 16 April 2014 on market abuse (the market abuse regulation) 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 (also referred to as the MAR).