Establishment of financial and registered pledge and receiving the notification under art. 69a of the Act on Public Offer
With reference to current report no 66/2020, the Executive Board of Apator SA ("Issuer") announces that on the 7th December 2020 subsidiary - Apator Mining sp. z o. o. concluded with PKO Bank Polski SA ("Bank") the contract on establishment of financial pledge and registered pledge up to the highest amount of security PLN 61,5 million on 3.600.000 bearer shares of Apator SA that constitute 10,97% of share capital and give 6,57% of total number of votes at General Shareholders Meeting of Apator.
The above mentioned agreement was concluded as the hedging of the investment credit for the construction of the plant granted by the Bank to the company Apator Powogaz SA.
Financial pledge remains in force till the day of establishing registered pledge and registered pledge expires on the day of establishing contractual mortgage on the properties of Apator Powogaz SA (current report no 66/2020).
In accordance with the conditions of the contract, Apator Mining will still be entitled to exercise the right to vote of the shares covered by the pledge.
Other conditions of the contract do not differ from conditions commonly used for such kind of contracts.
At the same time the Issuer announces that Apator Mining concluded the contract with Apator Powogaz SA on the 7th December 2020, according to which for the hedging of the credit, Apator Powogaz SA mentioned above will receive the remuneration in form of percentage commission determined on market principles. The commission will be calculated at the end of each calendar month on the amount of real debt of Apator Powogaz SA to the Bank.
Moreover, the Executive Board of Apator SA announces that on the 7th December 2020 it received from Apator Mining sp. z o. o. with headquarters in Katowice the notification under art. 69a of the Act of 29th July 2005 on public offer and conditions of introduction of financial instruments to organized trading system and public companies.
The subject of the notification is the information on the conclusion of a financial pledge and registered pledge agreement referred to above.
The Issuer encloses the full content of the received notification.
Article 17 (1) of the MAR Regulation
Article 70(1) of the Act on Public Offering, Conditions Governing the Introduction of Financial Instruments to Organised Trading, and Public Companies of 29 July 2005 (Journal of Laws of 2020, item 2080).
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