Entities of Apator Group and ING Bank Śląski SA concluded the contracts that in total meet the criterion of significant contract
The Management Board of Apator SA (hereinafter referred as „the Issuer”) announces that the entities of Apator Group and ING Bank Śląski SA (hereinafter referred as „the Bank”) concluded two contracts of total value PLN 26.000.000 in the period of the recent 12 months .The contracts in total meet the criterion of significant contract due to the exceeding 10% of equities of the Issuer.
The contract of the highest value is the multi-product one concluded by Apator Powogaz SA. („Company”) on 28.08.2014 and next it was completed with the annex on 25.082015. Based on the annex the time of availability for loan limit has been prolonged until 31.08.2016 .Maximum value of the limit is PLN 23.000.000.
The contract has been concluded on market conditions. The interest of the loan depends on currency of the loan to be taken (for PLN – WIBOR 1M, for EUR – EURIBOR 1M, for USD – LIBOR 1M) and it will be increased by a margin of the bank. The contract does not include (i) special provisions that would differ from conditions commonly used for such type of contracts (ii) liquidated damages and other significant reservations regarding the condition or date.
At the same time the Issuer announces that the contract of establishment of registered pledge on stock of the Company concluded on 28.08.2014 in order to hedge receivables of the bank (mentioned by the Issuer in current report no. 38/2014 still remains in force. The next hedging of the loan is silent assignment of receivables (PLN 3 m average monthly) and assignment of rights from insurance policy of the stock pledged. Moreover, Apator Powogaz SA on 25.08.2015 signed the declaration of subject to enforcement (i) to the amount of PLN 34.950.000, (ii) to hand over things being the subject of the pledge.
Legal basis:
§ 5 para 1 point 3 of the Regulation of Minister of Finance dated 19th February 2009 regarding current and regular information being transferred by the issuers of securities and conditions to be considered as equivalent information required by law of the state not being the member of the EU (i.e. Dz. U. 2014.133).
