Current report no. 37/2014 (19.08.2014)
Title:
receiving means of the loan from the Industrial Development Agency
Legal basic
Art. 56 sec. 1 point 1 of the Act on Public Offering - Confidential information
Message:
The Management Board of the Issuer hereby informs that in connection with fulfillment by URSUS S.A. of all conditions required to payment of the loan on the basis of the loan agreement concluded by the Issuer with the Industrial Development Agency on the 29th may 2014, of which the Issuer informed with the current report no. 22/2014, on the 18th August 2014 the Company received to its bank account the final loan installment in the amount of 10.000.000 PLN.
Payment by the Industrial Development Agencyof the total loan amount of 20.000.000 PLN was subject to establishing by the Issuer of securities, including a mortgage on a real estate property owned by the Company, a registered pledge on the Issuer’s stocks and on the right from the trademarks URSUS, as well as obtaining a guarantee.
The means received from the loan shall allow the Issuer to supplement the Issuer’s assets in relation with development of agricultural tractors production, to make investments in designing new products as well as financial restructuring, financing contracts and orders and other pro-effective activities.
The legal basis of transmission of this report is of the Art. 56 sec. 1 point 1 of the Act on Public Offering dated July 29th 2005.
