Current report no. 24/2015
Title:
Conclusion of 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 informs that on the 5th August 2015 the Issuer was informed about signing by URSUS S.A. and mBank S.A. with the seat in Warsaw the annex to the open-end credit agreement concluded on 20.04.2012, of which the Issuer informed in the current report no. 9/2012, with subsequent changes (the current reports no. 38/2012, 11/2013, 14/2014, 12/2015).
In accordance with the provisions of the annex, the maximum total credit amount was increased from 2.600.000 EUR to 5.000.000 EUR. According to the credit repayment schedule, the Issuer shall pay the amount of 1.000.000 EUR till the 30th September 2015 and the amount of 4.000.000 EUR till the 20th November 2015.
On the basis of the concluded annex, the security for the repayment of the credit was changed by increasing the amount of the collective contractual mortgage on the Issuer’s real estate in Opalenica to the amount of 6.000.000 EUR and increasing the amount of the registered pledge on the Company’s inventories to the amount of 7.500.000 EUR. Besides, in order to secure the bank’s receivables under the credit agreement, the parties established an assignment of receivables due to the Issuer from the company METEC (Ethiopia) under the agreement for delivery of tractors.
The other provisions of the credit agreement 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).
