Current Report 37/2015

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") informs that on 07/08/2015 it received a notice of the registration on 24/07/2015 by the Gdańsk-North District Court in Gdańsk, 3rd Land and Mortgage Register Division, in division IV of land and mortgage register No. GD1G/00268666/5, of two contractual real estate mortgages on the assets of INPRO S.A. of considerable value, constituting legal security for the repayment of credit granted to the Company by the consortium of banks: SGB - Bank S.A with its registered office in Poznań, ul. Szarych Szeregów 23a ("SGB," the "Bank") and Bank Spółdzielczy w Pruszczu Gdańskim, with its registered office in Pruszcz Gdański, ul. Wita Stwosza 2A ("BS," the "Bank") on the basis of consortium revolving credit agreement No. KKK/43//UK01/2015 of 16/07/2015 up to the amount of PLN 5,000,000.00.
The Company advised of the conclusion of the credit agreement in current report No. 32/2015 of 17/07/2015.
The mortgage entries were made in division IV of land and mortgage register No. GD1G/00268666/5 and concerns the following:
real estate mortgages established on the basis of the equal priority principle: the contractual real estate mortgage for SGB up to the amount of PLN 5,000,000, and the real estate mortgage for BS up to the amount of PLN 5,000,000 thus securing the principal, interest and other costs following from credit agreement No. GD/43/UK01/2015 of 16/07/2015, encumbering the ownership right vested in INPRO S.A. to plots belonging to the Wróbla Staw multi-family buildings project located in Gdańsk, Jasieńska street, for which real estate the Gdańsk-North District Court keeps land and mortgage register No. GD1G/00268666/5.
The value of the asset on which the above security was established is, in the books of accounts of INPRO S.A., PLN 4,088,766.66.
There are no connections between the Company, its managers and supervisors and the Bank and its managers.
The book value of the asset on which the security was established does not exceed 10% of the Company's equity.
The basis for the submission of this report is the fact that the value of the mortgage is in excess of the equivalent of 1,000,000 euros calculated with reference to the average rate published by the National Bank of Poland on the date on which the obligation to provide information arose.
Detailed legal grounds: § 5 par. 1 item 1 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