Current report  7/2014                                                                                                              

Title

Conclusion of factoring service agreement  

Legal basis

Art. 56 ust. 1 pkt 1 Ustawy o ofercie - informacje poufne

Message:

The Issuer’s Management Board hereby informs that on the 5th March 2014 the company URSUS S.A. concluded with Getin Noble Bank S.A. with the seat in Warsaw a factoring service agreement .

The subject of this agreement is factoring service consisting in financing of sales of all products of URSUS S.A.  to a group of the Company’s dealers covered by the agreement.

The total factoring limit granted to the Company’s  dealers covered by the agreement is  17.800.000 PLN. The above-mentioned agreement is concluded in compliance with the terms of full factoring, for an indefinite period.  For provision of factoring service the Factor is entitled to remuneration in the amount which does not differ from such remuneration on the factoring market.

Within the above-mentioned project of factoring service, Getin Noble Bank will offer to the domestic dealers of the Company a product called „URSUS CREDIT”, which will allow financing of purchase of the URSUS products by the final customer.  In the Issuer’s opinion, conclusion of this agreement will have a positive impact on the financial liquidity and will make purchase of the Company’s products more attractive, increasing the total sales volume. 

The legal basis of transmission of this report is the art. 56 sec. 1 point 1 of the Act on Public Offering, Conditions Governing the Introduction of Financial Instruments to Organized Trading, and Public Companies (of 28 June 2013, Journal of Laws of 2013, Item 1382 with subsequent changes).