CR_30_2017 - Redemption of bonds by the Issuer’s Subsidiary (31.07.2017 10:06 PM)

LARQ S.A. CURRENT REPORT 30/2017 Subject:

Redemption of bonds by the Issuer's Subsidiary

General Legal Basis:

Article 17 (1) of the 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 2004/72/EC

Text of Report:

With reference to the Current Report No. 6/2015 of 6 March 2015, the Management Board of LARQ S.A. of Warsaw (the "Issuer") hereby informs that the Management Board of the Issuer's subsidiary - NEXTBIKE POLSKA S.A. of Warsaw ("NEXTBIKE") was informed today by the Brokerage House of BOŚ S.A. of Warsaw that the latter terminated the registration of the series B bonds issued by NEXTBIKE. Accordingly, the Issuer's Management Board informs that, as of the date of this report, NEXTBIKE has no obligations under the issue of the series B bonds that have been redeemed at the request of NEXTBIKE, namely 6,000 bonds having the total par value of PLN 6,000,00.

The series B bonds were refinanced under the facility agreement made with ING Bank Śląski S.A. of Katowice; the Issuer reported the execution of that facility in its Current Report No. 9/2017 of 15 March 2017. The refinancing of the series B bonds is an element of financing optimisation efforts made by NEXTBIKE in order to reduce the effective costs of financing and to obtain a broader access to debt financing with the amortisation period equal to the maturities of the contracts financed with it.

Report Date

31 July 2017

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