31.12.2009
Conclusion of loan agreement with PKO BP
On 30 December 2009 Stalprofil SA made with PKO BP SA, based in Warsaw, the loan agreement in the form of multipurpose credit limit specified in the Polish currency, to the amount of 45 000 000,00 PLN, for the period until 29 December 2011.
Following the conclusion of this agreement Stalprofil SA may use the following bank products:
1. overdraft facility, in the Polish currency up to 50% limit,
2. revolving loan, in the Polish currency up to 100% limit,
3. letters of credit of up to 50% limit.
On the basis of the contract for multipurpose credit line up to the limit used in the form of revolving credit, referred to in paragraph 2, was included the previous revolving credit limit of 25 000 000,00 PLN, given in accordance with the revolving credit agreement dated 03.06.2009. Thus, the date of signature of this Agreement, ie December 30, 2009, the revolving credit agreement of which the company informed the current report 17/2009, shall be dissolved.
The loan will be used to finance current activity of the Company.
Financial terms of the credit granted shall not deviate from prevailing on the market and are based on the WIBOR rate + margin of the Bank.
The Issuer considers the agreement as significant because its value exceeds 10% of the Company\'s equity.
The main legal security of the credit is:
a) the mortgage up to 25 000 000 PLN, established for the Bank on the built-up property located in Katowice at Owsiana 60, on which the Company\'s warehouse is located. Cadastral gross value of built-up properties, on which the mortgage was established, shown in the accounts of the Company, is at 30 November 2009, 24 701 289,10 PLN.
b) the registered pledge on stocks of merchandise - metallurgical products of the cadastral net value of 20 000 000,00 PLN.
Assets, which establish the mortgage and pledge, the Company considers to be significant because their total value exceeds the equivalent of 1 million euro. There are no links between the issuer and the Bank, for which the mortgage was established.
Following the conclusion of this agreement Stalprofil SA may use the following bank products:
1. overdraft facility, in the Polish currency up to 50% limit,
2. revolving loan, in the Polish currency up to 100% limit,
3. letters of credit of up to 50% limit.
On the basis of the contract for multipurpose credit line up to the limit used in the form of revolving credit, referred to in paragraph 2, was included the previous revolving credit limit of 25 000 000,00 PLN, given in accordance with the revolving credit agreement dated 03.06.2009. Thus, the date of signature of this Agreement, ie December 30, 2009, the revolving credit agreement of which the company informed the current report 17/2009, shall be dissolved.
The loan will be used to finance current activity of the Company.
Financial terms of the credit granted shall not deviate from prevailing on the market and are based on the WIBOR rate + margin of the Bank.
The Issuer considers the agreement as significant because its value exceeds 10% of the Company\'s equity.
The main legal security of the credit is:
a) the mortgage up to 25 000 000 PLN, established for the Bank on the built-up property located in Katowice at Owsiana 60, on which the Company\'s warehouse is located. Cadastral gross value of built-up properties, on which the mortgage was established, shown in the accounts of the Company, is at 30 November 2009, 24 701 289,10 PLN.
b) the registered pledge on stocks of merchandise - metallurgical products of the cadastral net value of 20 000 000,00 PLN.
Assets, which establish the mortgage and pledge, the Company considers to be significant because their total value exceeds the equivalent of 1 million euro. There are no links between the issuer and the Bank, for which the mortgage was established.