Current report no. 18/2016 (04.04.2016)
Title:
Conclusion of the annex to the credit agreement with mBank S.A.
Legal basis:
Art. 56 sec. 1 point 2 of the Act on Public Offering – current and periodical information
Message:
The Management Board of the Issuer hereby announces that on the 4th May 2016 the Issuer was informed about signing by URSUS S.A. and mBank S.A. of the annex to the working capital credit agreement concluded on 22.09.2015, of which the Issuer informed in the current report no. 32/2015, with subsequent changes (the current reports no. 50/2015, 4/2016, 8/2016 I 17/2016).
According to the provisions of the concluded annex, the previous credit amount of 6.000.000 EUR was increased by 2.000.000 EUR, i.e. to the amount of 8.000.000 EUR.
The financial means of the increased credit amount will be used for execution of the additional scope of the sales contract of cane haulage tractors, tandem cane haulage trailers and spare parts thereof concluded with the Ethiopian company The Federal Democratic Republic of Ethiopia Sugar Corporation (ESC), resulting from the annex to the above-mentioned contract, of which the Issuer informed in the current report no. 12/2016.
According to the credit repayment schedule the Issuer will repay the credit with the funds received for executed deliveries of the subject of the contract with ESC. The amount of 6.000.000 EUR will be paid till the 31th May 2016, after receiving the payment for the third, last delivery executed within the contract with ESC of the 26th August 2015 (current report no. 26/2015). The remaining amount of 2.000.000 EUR will be paid till the 30th December 2016, after receiving the payment for delivery of the additional lot of the contract subject, resulting from the annex to the above-mentioned contract (current report no. 12/2016).
The other provisions of the above mentioned credit agreement, including the types of security, remain unchanged.
The legal basis of the present report is §5 sec.1 point 1 and point 3 in connection with §9 of the Regulation of the Minister of Finance dated 19 February 2009 regarding current and interim reports published by issuers of securities and the terms of finding as equivalent the information required under the laws of any non-member state (Journal of Laws, 2009 No 33, point 259 with subsequent changes).
