Muza : Report No 5 - The Company’s reception of amounts receivable from Matras S.A.

Subject: The Company's reception of amounts receivable from Matras S.A.

Current report No. 5/2017

Legal basis:

Article 17, paragraph 1 of MAR - confidential information.

Report content:

With respect to the information on court proceedings against Matras S.A., submitted on 9 December 2016 (current report No. 39/2016), and in relation to the information on the conclusion of the "Debt Settlement Agreement" with Matras S.A., submitted on 15 December 2016 (current report No. 40/2016), the Board of Muza Spółka Akcyjna (the "Company") hereby informs that, on 19 January 2017, it has received the amount of PLN 2,950,790.84 (two million nine hundred and fifty thousand seven hundred and ninety 84/100 zloty) from the court enforcement officer conducting the enforcement proceedings, enforced from Matras under the not-yet-final, but enforceable payment order of 8 December 2016 (current report No. 39/2016).

Along with the amount of PLN 700,000.00 (seven hundred thousand zloty) received previously by the Company under the "Debt Settlement Agreement" of 14 December 2016, the Company has received to date, against the debt of Matras S.A., the total amount of PLN 3,650,790.84 (three million six hundred and fifty thousand seven hundred and ninety 84/100 zloty), covering the entire debt of Matras S.A. towards the Company, resulting from the Cooperation Agreement of 4 May 2006, and from the costs of proceedings borne by the Company.

At the same time, the Board of the Company states that, presently, the court proceedings against Matras S.A. have not been finalized yet, because on 11 January 2017 Matras S.A. filed charges against the payment order issued on 8 December 2016 (breaching provisions of the "Debt Settlement Agreement" of 14 December 2016, wherein Matras S.A. acknowledged the Company's debts).

In the opinion of the Board of the Company, charges raised by Matras S.A. are groundless, particularly in context of the aforementioned acknowledgement of the Company's debts by Matras S.A. in the "Debt Settlement Agreement" of 14 December 2016.

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