With reference to the content of current report No. 53/2019 of 20 November 2019, on the conclusion with the municipal enterprise "Akwa Minsk" with its registered office in Minsk (Ordering Party) of an Agreement (Agreement) for the design and construction in general contracting system of a sports and recreation complex in Minsk, Republic of Belarus (Investment), Management Board of Unibep SA (Company, Issuer) informs about the conclusion on 25 November 2020 of an Annex to the Agreement, under which:

It was agreed to divide the works into two parts, of which part one covers design works and part of construction works worth approx. EUR 2.26 million net, which is the equivalent of approx. PLN 10.12 million net and it is financed exclusively from the Ordering Party's own funds. Whereas, part two, which covers other construction works worth approx. EUR 9.05 million net, which is equivalent to approx. PLN 40.47 million net, will be financed from the Ordering Party's own funds and from the funds received from the loan granted to the Ordering Party by a Polish bank (Bank) with KUKE insurance;

The Agreement enters into force – concerning construction works covered by the first part – as of the date of conclusion of the Annex;

With regard to construction works covered by the second part, the Agreement will enter into force provided the loan agreement concluded between the Ordering Party and the Bank enters into force and the Issuer receives a written confirmation of the Bank on the operability of the loan, which should happen in the first quarter of 2021;

The construction works comprising the first part will start in the fourth quarter of 2020 and end in the third quarter of 2021. On the other hand, the period of the construction works covered by the second part is 16 months.

There were no other material changes to remaining provisions of the Agreement.

Attachments:

68-2020