UNOFFICIAL TRANSLATION: Current report no. 21/2020
Date: March 31, 2020
Short name of issuer: i2 Development S.A.
Subject: Change in the terms of issue of series H bonds
Legal basis Article 17 para. 1 MAR – confidential information
Management Board of i2 Development S.A. (hereinafter: "the Company", "the Issuer") informs that:
1) on March 30, 2020, adopted a resolution to amend the Terms of Issue (hereinafter referred to as "WEO") of Series H Bonds adopted by Resolution No. 1 of the Company’s Management Board of September 26, 2018, amended by Resolution No. 1/3/2019 of the Company’s Management Board of March 29 2019 on the change in the terms of issue of series H bonds and Resolution No. 2/02/2020 of February 25, 2020 on the change of the terms of issue of series H bonds issued by the Company on September 26, 2018, with a value of PLN 1,000 each bond (hereinafter "Bonds H");
2) concluded with the bond holder holding all Bonds H an amendment to amend WEO.
The WEO changes concern the scope of established collateral.
The amendment of 30 March 2020 was added collateral in the form of mortgages on real estate and guarantees. H bonds after the WEO change are secured:
(i) an agreement to subordinate liabilities to the collateral administrator resulting from loans granted to companies of the Issuer’s Capital Group by entities related to the Issuer’s main shareholder;
(ii) a surety granted by the Guarantor to the Security Administrator up to the amount of the product of the number of H Notes taken up by all Subscribers and 150 (one hundred and fifty)% of the nominal value of one H Note;
(iii) to secure claims covered by a surety, the guarantor will establish a joint contractual mortgage in second place in terms of priority of satisfaction on the property located in Wrocław at Stalowa Street, Grabiszyn district including plot of land with registration number 4/2, the acquisition of which the Company announced in current report no. 15/2020 of February 28, 2020 and on the property located in Wrocław at Grabiszyńska Street, Grabiszyn District, covering a plot of land with registration number 13/18, the acquisition of which the Company announced in Current Report No. 60/2019 of December 20, 2019, and undertakes to transfer the abovementioned mortgages for a mortgage emptied after the first place mortgage;
(iv) joint contractual mortgage on premises – a total of sixteen service premises with a total area of 805.36 m2, which will be separated in the building "B9 – Bulwar Staromiejski" erected on the property located in Wrocław at Wszystkich Świętych Street and Jana Pawła II Square the mortgage will be entered in the land and mortgage register, to which housing properties will be separated, in second place in terms of priority of satisfaction and will be entitled to enter the emptied mortgage place after this mortgage;
(v) a declaration of submission to enforcement by the Issuer in favor of the Bondholders.
Signatures of persons representing the Company:
2020-03-31 Marcin Misztal President of the Board