Report no 55/2016

The Management Board of EMC Instytut Medyczny S.A.- the Issuer informs about granting an investment loan  in the amount of  PLN 13,000,000.00 to the Issuer by BGŻ BNP Paribas Spółka Akcyjna with its registered seat in Warsaw (the ‘Bank’). The said loan is to be allocated for financing / refinancing of 50% of the net cost of purchasing shares of Health limited liability company with its registered office in Kwidzyn and the reconstructing and moderning of the Zdrowie Hospital in Kwidzyn (‘ EMC Loan’).

The interest rate of the loan will be calculated on the basis of floating interest rate being a sum of the reference rate WIBOR 3M for one month deposits in PLN and premium of the Bank per annum, amounting to 1,95 pp.

EMC loan will be repaid in principal and interest installments payable on the last business day of each calendar month, starting from 31 January 2018. The deadline full repayment of the loan is 31 July 2021.

EMC loan will have been made available by 31 December 2017. Under the following conditions: providing a construction permit, contracts for the execution of construction works confirming the reality of the budget submitted along with material and financial schedule; providing confirmation of their own contribution in the amount of PLN 13,000,000.00; in the case of refinancing - presenting invoices not older than 6 months from their issue date; establishing a legal collateral.

The repayment collaterals of the EMC Loan include:

1)       Real estate mortgage up to 150% of the Loan amount  for the property owned by Zdrowie Sp. z o.o.,  located in Kwidzyn including premises nos178/38, 178/43, 178/44 and 178/45 with floor area of 1,3329 hectare., Land and Mortgage Register No. GD1I/00041802/6 maintained by the Register Court in Kwidzyn
2)      Assignment of rights under the insurancecontract of the said property up to the amount of  PLN 13,000,000.00.
3)      A registered pledge on receivables from services under contracts which were concluded between  Zdrowie Sp. z o.o. and the NHF of the minimum value amounting to PLN15,000,000.00
4)      A registered pledge on shares in Zdrowie Sp. z o.o. owned by the borrower
5)      A loan guarantee grantem by the Subsidiaries of the Issuer: Zdrowie Sp. z o.o., Mikulicz sp. z o.o., Regionalne Centrum Zdrowia Sp. z o.o.
6)      A blank promissory note of theBorrower and the promissory note declaration
7)      Power of attorney to accounts of the Borrower in the Bank
8)      The Issuer's statement on voluntary submitting to enforcement under Art. 777 § 1 (5) of the Code Of Civil Proceedings (Journal of Laws of 2013, Item 101, as amended) as to obligation to repay the cash liabilities under the Agreement, up to the amount of PLN 19,500,000.00  with the deadline for assigning an enforceability that expires on 17.10.2024, with content acceptable to the Bank.
9)      The Underwriters' statement on voluntary submitting to enforcement under Art. 777 § 1 (5) of the Code Of Civil Proceedings (Journal of Laws of 2013, Item 101, as amended) as to obligation to repay the cash liabilities under the Agreement, up to the amount of PLN 19,500,000.00  with the deadline for assigning an enforceability that expires on 17.10.2024, with content acceptable to the Bank.

 The remaining provisions of this loan contract appear characteristic of such a contract.

There are no affiliations whatsoever between the Issuer and the Bank. Neither are there any affiliations whatsoever between  the Issuer’s managers or supervisors and managers or supervisors of the Bank.