POLISH FINANCIAL SUPERVISION AUTHORITY

Current Report No 101/2016

Made on 2016-10-28

The issuer's name Magellan S.A.

Subject Completion of the waiver process with the bondholders relating to amendments of the terms and conditions of Magellan bonds

Legal grounds Art. 17 title 1 of MAR - confidential information

Report content:

With reference to the current report no. 89/2016, the Management Board of Magellan S.A. ("Company") hereby informs that on 27 October 2016 the Company completed a waiver process with the bondholders relating to amendments of the terms and conditions of the Company's bonds issued under a PLN 750 million bond programme agreement dated 17 January 2013 concluded with mBank S.A. Part of the mBank S.A. bonds was repaid by the Company.

Concurrently, the Management Board of the Company hereby informs that Magellan bonds issued under a PLN 110 million bond programme based on the issue agreement dated 26 July 2011 concluded with Alior Bank S.A., as amended, and Magellan bonds issued under a PLN 90 million bond programme dated 14 May 2014 concluded with Raiffeisen Bank S.A., as amended, were repaid by the Company in September 2016.

Following the successful outcome of the waiver process with the bondholders relating to amendments of the terms and conditions of the Company's bonds, the planned delisting of our shares - resolved upon by our Shareholders' meeting held on 30 September 2016 - will no longer result in an event of default under any provision of the notes issued under the bond programme agreement dated 17 January 2013 concluded with mBank S.A., or under any other loan agreement entered into by the Company or its subsidiaries.

In line with the current report no. 100/2016, on 26 October 2016 Magellan filed the application for the delisting with the Polish Financial Supervisory Authority (KNF); the delisting process is expected to be completed by year-end.

Vice-President, Management Board Member, Management Board

Grzegorz Grabowicz Rafał Karnowski

Magellan SA published this content on 28 October 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 28 October 2016 08:51:04 UTC.

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