Conclusion of a material agreement – annex to the agreement with Pekao S.A.
2009-04-30
The Management Board of LPP S.A. hereby informs that yesterday an annex was signed to the credit agreement concluded with Bank Polska Kasa Opieki Spółka Akcyjna on 13th August 2004. By virtue of the abovementioned annex, the multipurpose and multicurrency credit line was increased.
The basic products available under the agreement include:
- credit in the current account up to PLN 60m;
- a limit used to grant guarantees by LPP S.A. and its subsidiaries up to the amount equivalent to PLN 40m, with validity period until 30th September 2010 (or until 31st August 2011 in the case of guarantees for banks from the HVB/UCI group, securing the guarantees issued by them for LPP S.A. foreign companies),
- a limit used to open letters of credit up to the equivalent of PLN 115m with validity periods exceeding the validity period of the credit line (i.e. 31.01.2010) by a maximum of 6 months.
The credit agreement is secured by:
- blank promissory note
- power of attorney to dispose LPP S.A. accounts kept by Bank Pekao S.A.,
- borrower’s declaration of voluntary submission to enforcement proceedings,
The total value of products used cannot exceed PLN 115m.
The criterion to recognise an agreement as material is the value exceeding 10% of LPP S.A. equities.
Legal basis: Article 56, item 1 point 2 of the Public Offering Act - current and periodic information
Signatures:
Dariusz Pachla – Vice-President of the Management Board
Alicja Milińska – Vice-President of the Management Board
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