Indykpol : The current report no 29/2016 - The significant agreements

The current report no 29/2016

Forward transactions.

The Management Board of Indykpol SA ("Company") with its seat in Olsztyn informs the Company on June 30-th, 2016 concluded within the Currency Risk Management Policy, forward transactions, as follows:

A) with the Bank Gospodarstwa Krajowego:

1) 250.000 EUR - forward exchange rate - 4,4838, with the expirations date 2017-03-31,

2) 250.000 EUR - forward exchange rate- 4,4838, with the expirations date 2017-04-28.

B) with the the Pekao Bank SA:

1.  300.000 EUR - forward exchange rate 4,4838 with the expirationdate 2017-01-31.

2.  300.000 EUR - forward exchange rate 4,4875 with the expirationdate 2017-02-28.

C) with the Bank Zachodni WBK SA:

1) 800.000 EUR - forward exchange rate- 4,5140, with the expiration date 2017-06-30. 

The total nominal amount of above mentioned agreement amounts EUR 1.900.000, which is an equivalent of the amount PLN 8.545.350.

In previous months the Company had concluded transactions for the total amount EUR 4.000.000 which is an equivalent of the amount PLN 17.779.675 PLN, including:

On April 29-th, 2016:

A) with Pekao Bank S.A.:

1) 750.000 EUR- forward exchange rate 4,4632 with the expirations date 2017-03-30.

B) z Banki Gospodarstwa Krajowego:

1) 750.000 EUR- forward exchange rate 4,4675 with the expiration date 2017-04-28.

On May, 31-st, 2016:

A) with Pekao Bank S.A.:

1) 750.000 EUR- forward exchange rate 4,4567 with the expirations date 2017-05-31.

B) with Bank Zachodnim WBK S.A.:

1) 250.000 EUR- forward exchange rate 4,4165 with the expiration date 2017-10-30,

2) 500.000 EUR- forward exchange rate 4,4180 with the expiration date 2017-10-30,

3) 500.000 EUR- forward exchange rate 4,4245 with the expiration date 2017-11-30.

C) with Bank Gospodarstwa Krajowego:

1) 500.000 EUR- forward exchange rate 4,4275 with the expiration date 2017-12-30.

Cumulatively the total amount concluded transactions amounts EUR 5.900.000, which is an equivalent the amount PLN 26.325.025.

Agreements do not contain specific conditions differentfrom those commonly usedfor this type oftransaction andpenalty clauses.

The criterion for qualifying the above mentioned agreements as significant agreement was exceed 10% of the Issuer's own equity.