Current report 35/2013                                                                                        

Title

Conclusion of the working capital credit agreement and annexes to previously concluded agreements with Bank Millennium 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 19 December 2013 the company URSUS S.A. and Bank Millennium S.A. with the seat in Warsaw concluded:

- Annex to the overdraft facility agreement of 16.09.2008, according to which duration of the agreement was extended till 31.12.2014, while the credit amount was reduced from 20.000.000 PLN to 10.000.000 PLN,

-  the working capital credit Agreement in the amount of 10.000.000 PLN destined for financing the current activity of the Issuer and partial repayment of the overdraft facility credit granted on the basis of the overdraft facility agreement of 16.09.2008 and its annexes. The working capital credit agreement was concluded for definite period till 18.12.2017 and its repayment will be executed in 48 monthly installments. The interest rate on the credit is variable and fixed on the basis of WIBOR 1M rate increased by the Bank’s margin. 

- Annex to the revolving credit agreement of 23.05.2013, according to which duration of the agreement  was extended till 18.12.2014 r.

- Annex to the agreement for the line of bank warranties and documentary letters of credit of 08.01.2013 extending duration of the line till 07.01.2015.

For the working capital credit agreement, the revolving credit agreement of 23.05.2013, the overdraft facility agreement of 16.09.2008 and the agreement for the line of bank warranties and documentary letters of credit of 08.01.2013 the Parties designated security in form of collective bail mortgage on real estate properties of the Company in Dobre Miasto.

The other provisions of the above mentioned annexes to credit agreements and the newly concluded agreement do not differ from the standard terms commonly used in this kind of agreements.

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).