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14.01.2015
Current report no. 1/2015
Current report no. 1/2015

Issue and redemption of bonds by subsidiaries in Issuer’s Capital Group

The Management Board of Echo Investment S.A. ("the Issuer") hereby reports that on the 14th of January 2015 a subsidiary of the Issuer, Projekt Echo – 105 Spółka z ograniczoną odpowiedzialnością with its registered office in Kielce, issued 6.5-year bonds with a total nominal value of PLN 90 mln. The interest rate on the bonds was determined on the basis of variable WIBOR 6M rate plus profit margin. Interest earnings will be disbursed in 6-month intervals. On the redemption date the bonds will be redeemed at the nominal value of the bonds. The issued bonds are not secured within the meaning of the Bonds Act. All the bonds issued by the aforementioned subsidiary of the Issuer were acquired by the "Forum 60 Fundusz Inwestycyjny Zamknięty" with its registered office in Kraków, which is entered in the register of investment funds at the District Court in Warsaw, the 7th Civil Registry Department, under the number RFi 1048. The Issuer is the direct and indirect owner of all the investment certificates issued by the aforementioned fund. The bonds issued constitute 12% of Echo Investment S.A."s equity capital as at the 30th of September 2014. Furthermore, the Management Board of Echo Investment S.A. hereby reports that on the 13th of January 2015 a subsidiary of the Issuer, "Echo – SPV 7" Spółka z ograniczoną odpowiedzialnościa with its registered office in Kielce, made an early redemption of bonds with a nominal value of PLN 175 mln in order to cancel them, pursuant to an agreement signed with the "Forum 60 Fundusz Inwestycyjny Zamknięty" with its registered office in Kraków, which is entered in the register of investment funds at the District Court in Warsaw, the 7th Civil Registry Department, under the number RFi 1048, represented by FORUM Towarzystwo Funduszy Inwestycyjnych S.A. with its registered office in Kraków. The above events have a neutral influence on the economic situation of the Issuer"s Capital Group and they are related to the management process concerning monetary resources of Echo Investment Capital Group, whereby the aforementioned fund is an entity which finances investment projects carried out by individual SPV companies of Echo Investment Capital Group. Legal basis: article 56 (1.2) of the act on public offering and conditions governing the introduction of financial instruments to organised trading and public companies of the 29th of July 2005 (Journal of Laws No. 185 item 1439, as amended).

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