The Management Board of URSUS S.A. hereby informs that on the 17th March 2017 the Issuer concluded with the company KARMAG INDUSTRIE with the seat in Oran (Algeria) the commercial and industrial cooperation agreement aiming at establishment of a Polish-Algerian joint-venture company.

On the basis of the concluded agreement the Parties agreed that the commercial and industrial cooperation between URSUS S.A. and KARMAG INDUSTRIE will aim at establishment of a joint-venture company with the seat in Algeria, whose principal activity shall be assembly, sales, distribution and service of tractors and agricultural machinery on the Algerian market. The Parties agreed the ownership structure of the company, terms of its management and control, as well as organizational aspects of its operation in Algeria.

The agreement shall be interpreted and enforced in accordance with the laws of Switzerland.

The Agreement is The agreement is considered material due to its subject and potential benefits for the Company resulting from its execution. The Issuer will inform about progress in cooperation in relevant reports.

The company KARMAG INDUSTRIE dynamically operates on the Algerian market in the sector of agricultural machinery, successfully implementing projects related to support for agriculture. Conclusion of the above-mentioned cooperation agreement confirms growing involvement of the Issuer in execution of projects which will contribute to mechanization of agriculture in another African countries.

Ursus SA published this content on 17 March 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 30 March 2017 07:59:13 UTC.

Original documenthttp://en.ursus.com.pl/Current-Reports/Current-report-8/2017

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