Significant bank loan contract and bank guarantees contract concluded
Executive Board of Apator SA announces that on the 19th September 2012 Apator SA and Bank Handlowyw Warszawie SA (“Bank”) signed the Annex to Bank Loan on Current Account contract dated 27th May 2004. The Annex to the contract regards the increase of bank loan to the amount of 30 m PLN.
The criterion for consideration of bank loan contract as the significant one is the exceeding 10% value of equities of Apator SA.
Bank loan is aimed tat financing of current operation of Apator SA. Bank loan was granted for the period to the 9th September 2014 on the following conditions: reference rate: WIBOR 1M + bank margin and commissions: engagement and change of the conditions (determined on market conditions).
The contract does not include special conditions, typical for that contract, particularly those that would differ from conditions commonly used for such type of the contracts. It also does not include any provisions regarding contractual penalties and other significant objections to the terms or conditions. However, there is the provision that Bank is entitled to interest on not paid amounts due of bank loan and commissions in value of 200% of statutory interest calculated of debt balance indicated on the last day of binding of the bank loan.
The security of the above ban loan is:
- assignment of receivables in amount of 6 m PLN;
- establishment of mortgage up to the amount of 37 m PLN for the property of Apator SA located in Ostaszewo, municipality Łysomice registered in Land and Mortgage Register KW Nr TO1T/00107379/7 at District Court in Toruń, VI Land and Mortgage Register Department with the assignment of rights of insurance contract.
Registration value of net assets where the above mentioned insurance has been established
in accounting books of Apator SA is 37,8 m PLN according to the state at the 31st August 2012.
The value of established mortgage exceeds the equivalent of the amount of 1 m Eur translated according to average exchange rate announced by the National Bank of Poland binding on the day of establishment of information obligation.
There are no connections both between the Issuer (Apator SA) and the persons in management of the Issuer, and also persons supervising the Issuer and Bank Handlowy w Warszawie SA .
At the same time on the 19th September 2012 Apator SA and Bank Handlowy w Warszawie SA signed the annex to the contract of earlier repayment ( till the 21st September 2012) bank loan in amount of 15 m PLN. The bank loan was taken on the 4th November 2011 for the period of two years and it was designed to finance current business activity of Apator SA.
Moreover, on the 19th September 2012 Apator SA and Bank Handlowy w Warszawie SA signed annex to the frame contract of revolving line for granting bank guarantees dated the 13th October 2011. The annex increases the amount of bank guarantees on the order of Apator SA to the amount of 20 m PLN in the period since the 21st September 2012 till the 10th September 2013. Bank is entitled according to its exclusive opinion to grant bank guarantee according to orders of Apator SA
- with validity up to 18 months to total amount of 20 m PLN,
- with validity up to 3 years to total amount of 8 m PLN but total amount of bank guarantees is not allowed to be higher than 20 m PLN.
In case of every guarantee granted, Bank takes individual commission rates specified on market conditions.
Security of Bank receivables due to guarantees granted is:
- 10 blank bills secured by mortgage up to the amount of 37 m PLN on property of Apator SA located in Ostaszewo, Łysomice municipality registered in Land and Mortgage Register
KW Nr TO1T/00107379/7 (described above)
- assignment of rights from insurance contract of the above property,
- - assignment of receivables for the amount of 6 m PLN.
The contract did not include any special conditions typical for that contract, particularly those that would differ from the conditions commonly used for such type of contracts. It also does not include any provisions concerning contractual penalties and other objections regarding the terms and conditions.
Legal base for current report: § 5 para 1 points 1 and 3 of the Regulation of Minister of Finance 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 country not being the member of the EU.
CONTACT ON INVESTOR RELATIONS
Frequently asked questions and answers.