COMMISSION FOR FINANCIAL SUPERVISION
Current Report No. | 48/2020 |
Date drawn up: | 2020-11-30 |
Abbreviated name of the issuer | ELEKTROTIM S.A. |
Subject | Information on credit facility agreement concluded with mBank S.A. for a |
multi-product credit facility for ELEKTROTIM S.A. | |
Legal basis | Art. 17, sec. 1 MARCH - confidential information. |
Content of the report:
The company ELEKTROTIM S.A. (hereinafter: Company) notifies that on 30.11.2020 it concluded with mBank S.A.
with its registered office in Warsaw (hereinafter: Bank) a Framework Agreement for a multi-product credit facility
for ELEKTROTIM S.A. (date of the agreement: 30.11.2020; hereinafter: Credit Facility Agreement and/or Credit Facility).
The subject matter of the Credit Facility Agreement is the use by the Company of a revolving multi-product credit facility which may be used by ELEKTROTIM S.A. to finance its day-to-day business activity.
The Company has the right to use the products within the limit of the credit facility up to the amount of PLN 18,000,000.00 (limit), and also within the sublimit for guarantees up to the amount of the limit and within the sublimit on the account up to the amount of the limit.
Credit facility has been made available to the Company until 29.11.2022.
At the request of ELEKTROTIM S.A. the Credit Facility Agreement is covered by a guarantee of Bank Gospodarstwa Krajowego under the portfolio guarantee amount of the Liquidity Guarantee Fund (PLG-FGP).
The following constitute security for repayment of the receivables:
- the PLG-FGP guarantee granted by Bank Gospodarstwa Krajowego for the amount of PLN 14,400,000, i.e. for the amount of the guarantee constituting 80% of the amount of the Credit Facility Limit for the period from the date of entering Bank Gospodarstwa Krajowego into the Register to 28.02.2023 along with the promissory note,
- financial pledges established on current accounts of the Company under the Financial Pledge Agreement. ELEKTROTIM S.A. undertook to submit to the Bank a declaration on the submission to enforcement pursuant to
Art. 777, § 1, point 5 of the Code of Civil Procedure in the form of a notarial deed up to the amount of PLN
27,000,000, specifying the deadline for filing a request to assign the notarial deed with enforcement clause by 31.12.2023.
On 25.11.2020 the Company ELEKTROTIM S.A. was a party to "Umbrella Wieloproduktowa", a Multi-Product Credit Facility Agreement along with two entities from the ELEKTROTIM Capital Group, i.e. the PROCOM SYSTEM S.A. and ZEUS S.A. The Company notified of termination of the Multi-Product Credit Facility Agreement in the current report No. 46/2020 of 26.11.2020.
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