Change in the terms of the bank guarantee issued at the request of 3LP SA – a subsidiary of TIM SA

Date

2019-09-09

Current report no.

28/2019

Management Board of TIM SA announced  the information on granting the guarantee, referred to above, to the public in current report no. 37/2017 of 30.10.2017. Management Board of TIM SA announced  the information on the change in the terms of granting the abovementioned guarantee to the public in current report no. 45/2018 of 12.10.2018.
Management Board of TIM SA announced  the information on the conclusion of the lease agreement, referred to above, in current report No. 32/2015 of 03.11.2015 and in current report No. 49/2016 of 10.11.2016.

Pursuant to the above mentioned Annex No. 2, the scope of the collateral established in connection with the conclusion of the above agreements has been changed in the following manner:
1_the Bank has agreed to strike the mortgage established in favour of the Bank on the right of perpetual usufruct of the real property located in Wrocław at ul. Stargardzka 8 a described in the land and mortgage register No. KW WR 1 K/00095155/3 whose perpetual usufructuary and owner of the buildings is 3LP SA,
2_ 3LP SA has issued a blank promissory note which has been guaranteed by TIM SA up to the amount of EUR 573 328.48.

In addition, Management Board of TIM SA notifies that on 9 September 2019 3LP SA received a signed Annex No. 1, dated 2 September 2019, to the contract No. 09/146/18 for granting a guarantee, concluded between mBank SA with its registered office in Warsaw and 3LP SA with its registered office in Siechnice pursuant to which had been established the terms of granting and handling by mBank the Guarantee No. MT09146KOT18 issued at the request of 3LP SA in favour of Alexandralog PLSW03 Sp. z o.o. <0} _ previous name: Stillden Investments spółka z o.o., HE Wrocław 3 Bis Sp. z o.o._, securing timely payments of the rent and service charges in accordance with the lease agreement of 23.04.2018 regarding the built-up real property located in Siechnice at ul. Kwiatkowskiego 24.

The information on granting the guarantee, referred to above, was announced by the Management Board of TIM SA to the public in current report No. 45/2018 of 12.10.2018.
The information on the conclusion of the lease agreement, referred to above, was announced by the Management Board of TIM SA to the public in current report No. 11/2018 of 24.04.2018.

Pursuant to the above mentioned Annex No. 1 the guarantee period was extended for a successive year, i.e. by 23.09.2020, the amount of the granted guarantee was changed from EUR 290,000 to EUR 580,000 and the scope of the collaterals established in connection with the conclusion of the abovementioned contract was changed in the following manner:
1_the Bank has agreed to strike the mortgage established in favour of the Bank on the right of perpetual usufruct of the real property located in Wrocław at ul. Stargardzka 8 a described in the land and mortgage register No. KW WR 1 K/00095155/3 whose perpetual usufructuary and owner of the buildings is 3LP SA,
2_ 3LP SA has issued a blank promissory note which has been guaranteed by TIM SA up to the amount of EUR 290,000.

Striking the abovementioned mortgages on the real property of 3LP SA, referred to above, is one of the conditions suspending the performance of the preliminary conditional sales agreement of the above real property concluded on 28.09.2018 between 3LP SA as the seller and IPD Południe sp. Z oo as the buyer._ Current report 40/2018 of 28.09.2018 _

At the same time, Management Board of TIM SA notifies that on 9 September 2019 TIM SA received signed copies of the agreements concluded between TIM SA, 3LP SA, Alexandralog PLSW03 Sp. z o.o. and Alexandralog PLSW02 Sp.z o.o. dated 6 August 2019 pursuant to which having submitted the bank guarantees, referred to above, 3LP SA will be the sole tenant of warehouse spaces of the abovementioned lease agreements, whereas the abovementioned lease agreements with TIM SA, i.e. a joint and several tenant, will be terminated.

Management Board of TIM SA decided that the above information is of confidential nature, referred to in Art. 7 MAR due to potential influence of the above facts on financial results of TIM Capital Group.