09.07.2010
Conclusion of an addendum to the loan agreement by the subsidiary Izostal SA
Stalprofil SA announces that on 09.07.2010 the subsidiary Izostal SA has signed with PKO BP SA in Warsaw, the Regional Corporate Office in Katowice, addendum to the credit agreement for credit in an overdraft of up to 14 million PLN to finance current operations. Following the conclusion of this addendum has extended the period for which the loan was made, from 09.07.2010 to 09.10.2010.
Provided credit funds will be used to finance current operations of Izostal SA.
Financial conditions of the credit contract do not differ from those prevailing on the market and are based on WIBOR + bank margin.
Agreement is considered significant because its value along with any other contract (contract for investment credit in the amount of 6,000,000 PLN) concluded by Izostal SA in the last 12 months amounts to 20 million PLN and thus exceeds 10% of the issuer\'s equity.
The basic legal protection of these loans is a guarantee bill granted by Stalprofil SA to the subsidiary Izostal SA, to the amount of PLN 17.1 million, including a guarantee to the amount of PLN 14 million was granted for a period until 09.10.2010, while the guarantee to the amount of 3.100.000 PLN was granted until 30.07.2010. Stalprofil SA charges for this transaction on conditions commonly used on the market.
Provided credit funds will be used to finance current operations of Izostal SA.
Financial conditions of the credit contract do not differ from those prevailing on the market and are based on WIBOR + bank margin.
Agreement is considered significant because its value along with any other contract (contract for investment credit in the amount of 6,000,000 PLN) concluded by Izostal SA in the last 12 months amounts to 20 million PLN and thus exceeds 10% of the issuer\'s equity.
The basic legal protection of these loans is a guarantee bill granted by Stalprofil SA to the subsidiary Izostal SA, to the amount of PLN 17.1 million, including a guarantee to the amount of PLN 14 million was granted for a period until 09.10.2010, while the guarantee to the amount of 3.100.000 PLN was granted until 30.07.2010. Stalprofil SA charges for this transaction on conditions commonly used on the market.