Current reports

2022-10-11 16:57:07

Granting of a revolving loan of up to PLN 100 million to Towarowa Giełda Energii S.A.

Current Report No. 25/2022

Date: 11 October 2022

Topic: Granting of a revolving loan of up to PLN 100 million to Towarowa Giełda Energii S.A.

Legal basis: Article 17(1) MAR – inside information

Content:
The Management Board of the Warsaw Stock Exchange (“GPW”, “Company”, “Exchange”) announces that on 11 October 2022, GPW entered into an agreement with a related party, Towarowa Giełda Energii S.A. (“TGE”), whereby GPW shall grant TGE a revolving loan of up to PLN 100 million (in words: one hundred million zloty).
The loan shall be granted in PLN. The interest rate on the loan is variable and equal to the base interest rate WIBOR O/N plus a margin. The loan shall be repaid by 30 September 2023 (with the option of an extension for a further period, but no longer than 30 September 2024) depending on the situation on the international electricity market and the liquidity needs of TGE.
TGE can use the loan funds to the extent that the market situation requires. The loan is intended to finance VAT on settlements in the international electricity market.
100% of the shares of TGE are held by the Warsaw Stock Exchange. TGE is part of the GPW Group.

Legal basis: Article 17(1) of Regulation (EU) No. 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (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 2004/82/EC (Official Journal L No. 173) (“MAR”).

Signatures of the persons representing the Company:
Marek Dietl – President of the Board Member
Adam Młodkowski – Management Board Member