Fulfilment of conditions precedent for disbursement of new financing
(Current report no. 42/2021)
Article 17 sec. 1 of MAR - confidential information
With reference to Current Report No. 24/2021 of 14 May 2021, Current Report No. 32/2021 of 2 June 2021 and Current Report No. 41/2021 of 22 June 2021, the Management Board of CCC S.A. with its registered office in Polkowice ("CCC" or the "Issuer") hereby announces that raising funds from Cyfrowy Polsat S.A. ("CPSA") and from A&R Investments Limited ("A&R") from transactions conducted on the basis of contracts of sale of shares in eObuwie.pl S.A. ("eObuwie") referred to in Current Report No. 41/2021 of 22 June 2021 and allocating a part of these funds in the amount of PLN 415,000.000 PLN (in words: four hundred and fifteen million zlotys) for prepayment of the existing financing (financial debt) of the CCC Capital Group excluding eObuwie and its subsidiaries (hereinafter: "CCC Group") is the final element of the process of fulfilling the conditions precedent to the disbursement of the new financing provided for in the credit agreement concluded on 2 June 2021 ("New Financing Agreement"), about which the Issuer informed in the current report No. 32/2021 of 2 June 2021. Following the finalisation of the aforementioned prepayment of PLN 415,000,000 (in words: four hundred and fifteen million zlotys), the first use of credit under the New Financing Agreement is planned for 24 June 2021.
The Issuer also announces that it has concluded (as a lender) loan agreements with its subsidiaries, CCC.eu Sp. z o.o. and OFP Sp. z o.o. (as borrowers). Under the loan agreements, the Issuer, inter alia, from the funds received from CPSA and A&R under the transactions referred to above, will grant (i) CCC.eu Sp. z o.o. a loan in the amount of up to PLN 1,000,000,000 (one billion PLN) and (ii) OFP Sp. z o.o. a loan in the amount of PLN 200,000,000 (two hundred million PLN). In addition, the Issuer also announces that it has concluded (as a borrower) a loan agreement with its subsidiary CCC.eu Sp. z o.o. (as the lender), under which a loan was granted in the amount of 47 212 340 PLN (say: forty-seven million two hundred twelve thousand three hundred forty zlotys). The companies of the CCC Group will use the funds raised from the loans indicated, among other things, to make the prepayment of the financial debt referred to in this report.
Additionally, with reference to current report No. 32/2021 dated 2 June 2021, the Issuer informs that raising funds from CPSA and A&R from the transactions mentioned above and allocating part of them in the amount of PLN 415,000.000 PLN (in words: four hundred and fifteen million PLN) for prepayment of the current financing (financial debt) of the CCC Group constitutes fulfillment of the final condition precedent for the entry into force of Annex No. 3 to the Agreement No. 86 1020 1026 0000 1702 0402 2018 Multi-purpose Credit Limit of 21 November 2019 with the bank Powszechna Kasa Oszczędności Bank Polski S.A, which Annex No. 3 was concluded on 2 June 2021. Upon the entry into force of the aforementioned Annex No. 3, eObuwie is released from its liability(s) to Powszechna Kasa Oszczędności Bank Polski S.A. under this Multi-purpose Credit Limit Agreement.
The fulfilment of the conditions precedent to the disbursement of the new financing provided under the New Financing Agreement indicated above and reserved under the related additional documents indicated above, as well as the conclusion of the additional financing documents indicated above with the participation of the Issuer and its subsidiaries, is the final stage of the work on refinancing the debt of the CCC Group, the purpose of which is to ensure a stable, long-term level of financing for the CCC Group, in accordance with the business objectives of the GO.22 strategy and the key strategic projects covered by it.
1/ Karol Półtorak - Vice-President of the Management Board
2/ Hanna Kamińska - Proxy