66/2009: Conclusion of an annex to the agreement for the liability limit
In relation to the current report number 32/2008 from May 15, 2008, and current report number 50/.2008 from July 31, 2008, (available under the website: http://www.pbg-sa.pl/en/investor-relations/current-reports.html ) the Management Board of PBG SA informs that on the 31st of August 2009 it received information of the conclusion on the 21st of August 2009 of an annex to the agreement from the 28th of September 2007, concluded by the Companies of the PBG Capital Group, which are: PBG SA, INFRA SA, “METOREX” Limited, “DROMOST” Limited, HYDROBUDOWA 9 SA, PRID SA, APRIVIA SA, PETPOL SA and HYDROBUDOWA POLSKA SA. Under the concluded annex, HYDROBUDOWA POLSKA SA became a party in the agreement. Additionally, there has been an increase of the limit of liability assigned to the Companies from 125.000.000 PLN to 145.000.000 PLN.
In accordance with the annexed agreement, the Companies are assigned a limit of liability up to the total sum of 145.000.000 PLN with the purpose of financing current operation. The limit may be used by any of the Companies in the form of:
- a revolving credit 1 in PLN, EUR and USD up to the sum equal to 100.000.000 PLN, where the final day when it is to be used is 27.11.2009 and the final payment date is 30.11.2009;
- a revolving credit 2 in PLN up to the sum of 20.000.000 PLN, where the final day when it is to be used is 27.07.2010 and the final payment date is the 30th of July 2010;
- a limit on letters of credit “without advance coverage” in PLN or another currency, up to the sum equal to 15.000.000 PLN, where the final day when they are to be used and the payment date is 29.11.2013;
- a limit on bank guarantees in PLN or another currency up to the sum equal to 75.000.000 PLN, where the final day when they are to be used and the final payment day is 29.11.2013.
At the same time the Companies have made a statement of subjecting themselves to execution in the order specified in article 97 of the Bank Law bill (that is, execution initiated by the Bank based on the bank’s execution claim), up to the total sum of the current debt including interest and other expenses, however, to a sum no higher than 317.500.000 PLN. The bank may file for granting the banks execution claim an executive clause in up to the 29th of November 2016.
Other conclusions of the agreement has not been changed.
Legal basis:
§5 item 1, point 5 Act on the Offer – information update
Signature of an authorizes person:
Magdalena Eckert-Boruta
Pliki:
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