RB 8/2018 
Date: 13 February 2018
Subject:  Establishing limits for loans as part of the Partner Support Plan at Benefit Systems S.A.
Legal basis: Art. 17 item 1 MAR – inside information

The Management Board of Benefit Systems S.A., with its registered seat in Warsaw (hereinafter the ‘Company’) informs that on 13 February 2018, the Company’s Supervisory Board granted consent to increasing of the limit for loans granted by the Company as part of the Partner Support Program up to the total amount of PLN 35 000 000 (hereinafter, the ‘Program’).

The Program is addressed to entities providing sports-and-recreation services in favor of the users of the MultiSport cards, with whom the Company entered into cooperation agreement (hereinafter the ‘Partner’). Provided that the Partner has met specific terms stipulated in the principles of the Program (including in particular a continuous cooperation with the Company for at least 12 months and failing to ascertain any irregularities in complying with the terms and conditions of the cooperation agreement over that period of time; application for a loan filed along with the required documentation; establishing the relevant collaterals for the loan agreement, as specified in detail in the rules of the Program) and obtained a positive decision from the Company, the Company will grant the financial support in the form of a loan to Partners intending to open a new or to modernize an existing fitness club.

In accordance with the rules of the Program, the maximum loan amount for a Partner, depending on its purpose, is PLN 1 000 000 – for opening of a new fitness club or PLN 500 000 – for modernization of an already existing fitness club. The amount of the loan is determined, each time, by the Company based on the submitted application with attachments and information provided by the Partner.

The detailed terms of granting the loan and its repayment are specified in the loan agreement concluded by the Partner with the Company. The provisions of the loan agreement regarding the collateral for the loan do not differ from the terms commonly used for agreements of this type.

Depending on the goal, loans will be granted for the period specified by the needs of the Partner, not exceeding 120 months. The interest rate on the loans depends on, inter alia, the results of the verification of the Partner carried out by the Company and the documents submitted by them.

The company performs an analysis of the application submitted by the Partner, based on the Partner's ability to repay the loan installments, a subjective assessment of the quality factors of the planned project, and an assessment of the collateral provided.

The Company’s Management Board is authorized to, at any given time, make a decision to withdraw from the implementation of the Program, or to suspend (and to resume) its implementation.

The aim of the program is to provide an increasing number of MultiSport card users with additional sport facilities of appropriate quality, and to support Partners in the further development of their operations.