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GENERAL MEETING

THE SUWARY SPÓŁKA AKCYJNA MANAGEMENT BOARD NOTICE OF CONVENING AN ORDINARY GENERAL MEETING OF SHAREHOLDERS TO BE HELD AT 1 PM, ON MARCH 8, 2017 IN PABIANICE, PIOTRA SKARGI 45/47

15.02.2017

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Current Report 25/2015 Letter of intent execution

The Management Board of “SUWARY” S.A. (‘Company’) hereby announces that today the Company signed a letter of intent with Onico Trade Mark Spółka z ograniczoną odpowiedzialnością IPR spółka komandytowo-akcyjna, with its registered office in Warsaw (address: 00-586 Warszawa, ulica Flory 3 lok. 4, REGON (Statistical Number): 146876710, NIP (Tax Identification Number): 5242762874, entered into the Register of Entrepreneurs of the National Court Register (KRS) kept by the District Court for the Capital City of Warsaw in Warsaw, 12th Economic Division of the National Court Register under the KRS number  0000477296 (‘Seller’), represented by  Wentworth Central spółka z ograniczoną odpowiedzialnością, with its registered office in Poniatowa, ul. Przemysłowa 19 NIP (Tax Identification Number): 7171831042, entered into the Register of Entrepreneurs of the National Court Register under the KRS number 0000577770. In this letter of intent both parties express their interest to conclude a contract for the sale of  the Seller’s enterprise including a Production Plant in Bydgoszcz, hereinafter referred to as the ‘Enterprise’, on terms and conditions agreed between the Parties.

In compliance with the signed letter of intent, the Parties intend to conclude the contract for the sale of the Enterprise by 31 October 2015, provided that all of the following terms and conditions are satisfied:

a)      The Seller shall purchase the Production Plant in Bydgoszcz from  WENTWORTH TECH,

b)      The Purchaser shall receive a positive opinion from the person performing due diligence (legal, technical, tax issues),

c)       The Parties shall agree upon the terms and conditions of sale of the Enterprise, in particular prices and payment terms,

d)      The Parties shall obtain consents from the bodies of their companies for the conclusion of the contract for the sale of the Enterprise.

Pursuant to the signed letter of intent, the contract for the sale of the Enterprise shall come into force upon signing and shall expire:

a)      in the event of failure to conclude the Contract for the sale of the Enterprise until 30 November 2015,

b)      on the date on which an event specified in any separate agreement between the Parties occurs, whereby such event would result in termination of the Contract or expiry of Parties’ obligations under such separate agreement.

2015-09-30

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