42/2007: Conclusion of a material agreement by PBG S.A. and Group companies
On 2nd May 2007, the Board of Directors of PBG S.A. was informed that on 27th April 2007 PBG S.A. and its subsidiaries Hydrobudowa Włocławek S.A. and Infra Sp. z o.o. concluded a material agreement. The subject of the agreement is granting the said companies jointly and severally a credit facility of PLN 85,000,000 to finance current operations by Bank Gospodarki Żywnościowej SA. The line is revolving and has been granted for the period between 27th April 2007 and 26th May 2013 (line repayment date), and may be used in PLN, EUR or USD.
The companies may use the line, among others, in the form of operating credits at a credit account, revolving credits, bank guarantees and documentary letters of credit. The repayment of the line shall be secured by endorsed transfer of receivables from contracts, powers of attorney to use current accounts of the Companies concluding the agreement, blank promissory notes with promissory note declarations.
The said agreement is considered material based on the total shareholders' equity criterion.
Furthermore, the Board of Directors of PBG S.A. was informed that on 27th April 2007 PBG S.A. and its subsidiaries Hydrobudowa Włocławek S.A. and Infra Sp. z o.o. concluded an agreement for a non-revolving investment credit of PLN 15,000,000 with BGŻ SA. The credit has been extended to the Companies jointly and severally by 31st December 2010 (credit repayment date).
The repayment of the line shall be secured by registered pledges on the objects of credit with transfer of rights from the insurance policy of the object of pledge, and powers of attorney to use the Companies' current accounts, as well as blank promissory notes with promissory note declarations.
All charges and commissions of the Bank for the credits extended have been determined based on market terms and conditions.
Legal basis:
Art. 5 item 1.3 of the Regulation of the Minister of Finance of 19th October 2005.
Signature of the authorised person:
Magdalena Eckert-Boruta
Pliki:
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