Annexes prolonging loan agreements with Bank Zachodni WBK S.A.

On January 15, 2015, the Board of Stalprofil SA received information about signing by BZ WBK SA with its registered office in Wrocław, of 5 annexes to credit agreements that extend deadlines for the provision of individual credit lines granted to the Company by BZ WBK SA
As a result of these annexes to loan agreements was extended availability period for the Company of following banking products:
- working capital loan (long-term) to the amount of PLN 10,000,000 - until January 25, 2017,
- revolving working capital facility of up to PLN 10,000,000 PLN - until February 28, 2015,
- revolving working capital facility in EUR to EUR 500,000 - until February 28, 2015,
- working capital loan in the current account to the amount of PLN 10,000,000 - until February 28, 2015,
- letters of credit lines without the funding to the amount of 5,000,000 PLN - until January 31 2016.
Short-term revolving credit agreement and overdraft facilities have been extended until 28 February 2015, due to the fact that Stalprofil is in the process of negotiating with Bank Zachodni WBK terms and conditions of the new banking product called "Multiline", which is to replace all short-term credit products that the Company has in the bank. The conclusion of this agreement, the Company will inform in a separate communication. BZ WBK SA confirmed the readiness to extend credit lines for the next year and the Company's credit at the current level.
Granted by the Bank credit limits are used by the Company to finance current operations. The financial terms on which the Company will use the granted limits do not differ from those commonly used in the market for such contracts and are based on WIBOR + margin. The Company considers the agreement as significant as its total value exceeds 10% of the equity of the issuer.
The collateral provided by Bank SA credit lines are so far: pledge on commercial goods (metallurgical products) owned by Stalprofil of the net price of PLN 10,000,000 registration and assignment of receivables from commercial contracts whose value is 27,500,000 PLN. Between the issuer and the Bank and its directors and supervisors there are no connections. Assets, which establishes limited property right to BZ WBK SA, the Company considers to be of significant value as it exceeds the PLN equivalent of 1 million euro.