Current report 33/2011
Subject:
The conclusion of a significant agreement by a subsidiary of the Issuer - Bioenergia Invest SA
Legal basis:
Article 56 paragraph 1 item 2 of the Act on Public Offering - current and periodic information
Contents of the report:
The Management Board of POL-MOT Warfama SA announces that on November 22,2011 the subsidiary of the Issuer - Bioenergia Invest SA in Dobre Miastoconcluded an agreementof credit line for the implementation of letters of credit in foreign and domestic trade with the Bank Zachodni WBK S.A. with headquarters in Wrocław. Lifetime of the agreementwas set forApril 30, 2012.
Under thatagreement, the Bank granted Bioenergia Invest SA a credit line to the amount of PLN 20,000,000.00 (twenty million) for the purpose of execution of letters of credit. First letter of credit may be issued to the amount of PLN 5,000,000 (five million). The currency ofthe fulfillment of the contract isEUR. From the amount of credit used will be charged interest at base rate plus the margin of the Bank. Bank receivables are secured by Company’s statement of execution and transfer of receivables for Bioenergia Invest S.A. under the contract related to supplies of biomass. The remaining terms of the agreement do not differ from market standards applied by banks in agreements of that type.
Thisagreement will allow the company Bioenergia Invest SA achieve the statutory objectives based on the transport of raw materials from abroad and will ensure constant higher supply of biomass to power plants in subsequent years.
The agreement was considered significant because of the value of the contract, which exceeds 10% of the equity of the Issuer.
The legal basis:
Pursuant to § 5 section 1 point 3 in conjunction with § 9 of the Minister of Finance Regulation of 19 February 2009 on current and periodic reporting by issuers of securities and the rules of equal treatment of the information required by the laws of non-member states (Journal of Laws of 2009 No. 33, item 259, later amended).
