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Current reports

Significant bank loan contract concluded by subsidiary Newind Sp. z o. o.

Nr 46/2012
Date and time: 2012/09/04, 00:00
Category: Concluded contracts

Executive Board of Apator SA announces that on the 3rd September 2012 Supervisory Board of subsidiary Newind sp. z o. o. with headquarters in Wrocław agreed to conclude bank loan contract for the amount of 20 m PLN by Executive Board of Newind sp. z o. o.. Bank loan is to be allocated to finance expenditures concerning the equipment and license for the performance of the contract related to modernization of Technical and System Infrastructure for System for Electronic Exchange of Documents of Zakład Ubezpieczeń Społecznych (ZUS) in Warsaw and it was described in current report no 40/2012 dated 20th July 2012. Bank loan is being granted by Kredyt Bank SA for the period since the 20th August 2012 till the 19th November 2012 provided the following conditions are met: reference rate: WIBOR 1M + bank margin and commissions: preparing one and payment one by the bank towards Bank Guarantee Fund (specified on market conditions).The contract does not include any provisions concerning contractual penalties and other significant objections regarding conditions and terms. Hedging of the bank loan is:- transfer of receivables due to performance of the above mentioned contract by Newind sp. z o.o.,- blocking cash on the account of Newind sp. z o. o. in amount of 40,5 m PLN,- registered pledge on things specified in kind,- consent of Newind sp. z o. o. to issue bank enforcement title in the amount up to 25 m PLN.In the loan contract, significant obligations of Newind sp. z o.o. include provisions concerning:- maintenance monthly cash inflows on bank accounts of  Newind sp. z o. o. from contracting partners in amount at least of 3 m PLN,- maintenance ratio of payment from the profit of the Company at zero level.The contract is significant one due to the exceeding of 10% value of equities of Apator SA.In the period of recent 12 months the entities of Grupa Apator signed three contracts (the above one included) with Kredyt Bank SA with headquarters in Warsaw for the total amount of 33 m PLN. The contract of the highest value in that period was the described one above. Legal basis: § 5 para 1 point 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. 



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