09.01.2009
Concluding annexes to credit contracts with ING Bank Śląski SA
On January 9, 2009, Stalprofil SA received information on the fact that two annexes to credit contracts concluded by and between Stalprofil SA and ING Bank Śląski SA at Katowice were signed by the second party (ING Bank Śląski SA).
As a result of concluding of the above annexes, the credit limit in the current account was increased from PLN 10,000,000 to the amount of PLN 25,000,000 and simultaneously, working capital credit at the amount of PLN 15,000,000 ceased to be effective. Thus, the total amount of the credit limit that Stalprofil could use at ING Bank Śląski SA has not changed, it is its structure that has changed to more flexible facility – credit in the current account. Financial conditions on which the Company is going to avail of this credit do not differ from the generally applicable ones and they are based on WIBOR ON + bank margin.
The awarded credit limit will be used by the Company for financing of the current operating activity until May 31, 2009. If within 35 days before that date neither party submits a notice on contract termination, it will be automatically extended for the following year.
The company considers the contracts important as their value exceeds 10% of the issuer’s equity.
One of the legal securities of the credit granted is the registered pledge agreement concerning commercial goods owned by Stalprofil. The security has not been changed and it consists of steel products of net standard price value of PLN 30,000,000. The Company concerns assets covered by the registered pledge agreement high-value assets as their value exceeds the equivalent of € 1,000,000.
Legal basis: §5 cl.1 item 1 and 3 of the Regulation of the Minister of Finance dated October 19, 2005 on current and periodical information submitted by the issuers of securities.
As a result of concluding of the above annexes, the credit limit in the current account was increased from PLN 10,000,000 to the amount of PLN 25,000,000 and simultaneously, working capital credit at the amount of PLN 15,000,000 ceased to be effective. Thus, the total amount of the credit limit that Stalprofil could use at ING Bank Śląski SA has not changed, it is its structure that has changed to more flexible facility – credit in the current account. Financial conditions on which the Company is going to avail of this credit do not differ from the generally applicable ones and they are based on WIBOR ON + bank margin.
The awarded credit limit will be used by the Company for financing of the current operating activity until May 31, 2009. If within 35 days before that date neither party submits a notice on contract termination, it will be automatically extended for the following year.
The company considers the contracts important as their value exceeds 10% of the issuer’s equity.
One of the legal securities of the credit granted is the registered pledge agreement concerning commercial goods owned by Stalprofil. The security has not been changed and it consists of steel products of net standard price value of PLN 30,000,000. The Company concerns assets covered by the registered pledge agreement high-value assets as their value exceeds the equivalent of € 1,000,000.
Legal basis: §5 cl.1 item 1 and 3 of the Regulation of the Minister of Finance dated October 19, 2005 on current and periodical information submitted by the issuers of securities.