Reports

The Management Board of HELIO S.A. hereby informs about concluding on 22.08.2011 with Bank BPH S.A. with its registered office in Cracow (“the Bank”) an annex to the credit agreement for a multipurpose multicurrency credit line executed on 11 August 2008 with further changes, about which the Issuer informed in the current reports no. 4/2008 of 11.08.2008 and no. 6/2009 of 30.09.2009 and no. 6/2010 of 03.09.2010.

On the basis of the above mentioned annex following changes were made:
1. the term of credit was extended and the amount of credit on the current account was increased in the amount not larger than:
– PLN 14 000 000 in a period from 23.08.2011 to 31.01.2012,
– PLN 13 000 000 in a period from 01.02.2012 to 29.02.2012,
– PLN 12 000 000 in a period from 01.03.2012 to 29.03.2012,
– PLN 11 000 000 in a period from 30.03.2012 to 31.05.2012,
– PLN 10 000 000 in a period from 01.06.2012 to 28.06.2012,
– PLN 9 000 000 in a period from 29.06.2012 to the end of crediting period, i.e. to 22.08.2012,

2. The Bank’s interest rate from the amount of the used credit was decreased,

3. The following collaterals for repayment of the Credits, interest, commissions, charges, Bank’s costs and any other Bank’s receivables have been established: deposit mortgage for the amount up to PLN 20 860 000 for the real estate being a property of the Debtor, located in Wyględy and designated in the land and mortgage register (KW) no. WA1G/00058436/4 along with an assignment of the insurance policy.

The remaining essential terms of the agreement have not been changed. Annex shall enter into force on 23.08.2011.

The fundamental criterion for recognizing the agreements significant is the total value of the credit amounting to at least 10% of the Company’s revenues from sales in the last four quarters.