Confidential information - subsidiary Apator Rector Sp. z o.o. and Millennium Bank SA concluded loan contract
The Management Board of Apator SA announces that subsidiary Apator Rector Sp. z o.o. and Millennium Bank SA concluded on 27th May 2015:
- revolving loan contract for the amount of PLN 17 m,
- overdraft contract for the amount of PLN 3 m.
Total value of loans is PLN 20 m, and their hedging is as follows:
- surety granted by Apator SA to the amount of PLN 10 m,
- assignment of receivables from long – term contracts being performed.
Cash from the loans are designed to finance of current activity relating to:
- special character of long-term contracts being performed (time span between incurring of costs and inflows from sales),
- delays in their performance
Legal basis: Art. 56 para.1 point 1 of the act on public bid and conditions of introduction of financial instruments to organized trading system and on public companies dated 29th July 2005 (uniform text in Journal of Laws dated 2013 item 1382).
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