The Management Board of Benefit Systems S.A. with its registered office in Warsaw (the "Company") informs that on February 13, 2018, the Supervisory Board of the Company agreed to increase the limit of loans granted by the Company under the partner support program up to a total of PLN 35 million (the "Program"). br> The program is addressed to entities providing sports and recreation services to the users of the MultiSport Program cards with which the Company has entered into a cooperation agreement ("Partner"). Provided that the Partner meets the detailed conditions set out in the Program rules (including cooperation with the Company on a continuous basis for a period of at least 12 months and failure to comply with the terms of the cooperation agreement during that period, submitting the loan application with the required documentation; establishment of appropriate collateral for the loan agreement indicated in detail in the Program's rules) and obtaining positive approval of the Company, the Company provides Partners intending to open a new fitness club or modernize the already functioning fitness club, financial support in the form of a loan. br> According to the Program rules, the maximum loan amount for a Partner, depending on its purpose, is PLN 1,000,000 - in the case of opening a new fitness club or PLN 500,000 - in the case of 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. br> 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 security of its granting do not differ from the terms commonly used for contracts of this type. Br> Depending on the purpose, loans will be granted for a period justified by the needs of the Partner, not longer than 120 months. The interest rate on loans depends on from the results of the Partner's verification and documents submitted by the Company. br> The substantive analysis of the application submitted by the Partner is made based on the Partner's ability to pay the loan installments, subjective assessment of the quality factors of the planned project and the level of submitted collateral. < / br> The Management Board of the Company is authorized at any time to decide on withdrawal fromimplementation of the Program, or suspension (and resumption) of its implementation. br> The program aims to provide for additional users of MultiSport card additional places to exercise the appropriate quality and support Partners in further development of their activities. br>
Source: company website, investor relations, current and periodic reports.