56/2012: Termination of credit agreement by financing bank
The Management Board of PBG S.A. hereby reports that on June 12th 2012 it was notified by Bank Gospodarki Żywnościowej S.A. of Warsaw of its valid termination of Framework Agreement No. 888477/2011/LT of December 27th 2011 between the Bank and the following PBG Group companies: PBG S.A., Hydrobudowa Polska S.A. (and Hydrobudowa 9 S.A.), APRIVIA S.A. and Energomontaż Południe S.A.
The Bank terminated the framework agreement with immediate effect following an event of default related to PBG's financial standing. The occurrence of the event of default was determined based on PBG's Current Report No. 42/2012 of June 4th 2012 on filing of petitions for insolvency with arrangement option by Management Boards of PBG S.A., HYDROBUDOWA POLSKA S.A. and APRIVIA S.A.
At the same time, citing Current Report No. 28/2012 of June 4th 2012 released by Energomontaż Południe S.A., the Management Board of PBG S.A. reports that the Management Board of Energomontaż Południe S.A. submitted to BGŻ a representation on avoidance of the legal consequences of declarations of will as reported by Energomontaż Południe S.A. in its Current Report No. 2/2012, including the declarations of will related to the company's liability in excess of PLN 3.98m.
Legal basis:
Art. 56.1.1 of the Public Offering Act – inside information
Pliki:
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