Carpathia Capital SA (hereinafter called the “Company”) hereby informs that Moto44 S.A. (hereinafter called “Moto44”, the “ Issuer of Bonds”) in a transaction about which the Company informed in current reports 1/2016 and 2/2016, did not make timely redemption of bonds for a total amount of 1,050,000 PLN. Due to the financial results achieved by the Moto44 SA in the first three quarters of 2016. Carpathia Capital SA has not exercised the option for conversion of liabilities of the Bonds Issuer into the shares of the transformed company.
Carpathia Capital SA has not approved the proposal to extend the maturity of the bonds terms proposed by the Issuer of bonds. Bonds of Moto44 are secured by real estate, the value of which, in the opinion of the Company, secures the repayment of liabilities resulting from the issuance of bonds with interest.
The Company will inform about the further course of the transaction.