CURRENT REPORT
RB 1/2021 - 14.01.2021
Supplement to current report no. 26/2020 related to the conclusion by the Issuer of a loan agreement with ELIS CONSULTING sp. z o.o. with its registered office in Wrocław.
The Management Board of the Company Selena FM S.A. (the Issuer) hereby makes public a supplement to current report no. 26/2020 related to the conclusion by the Issuer of a loan agreement with ELIS CONSULTING sp. z o.o. with its registered office in Wrocław (the Borrower) for a total amount of PLN 40,000,000.00 (the Loan).
The conclusion of the above-mentioned loan agreement was justified by the interests of the Company and shareholders other than related entities, including minority shareholders, and, in particular, by the fact that the interest rate on the Loan is multiple times higher than the interest rates currently offered by banks. Moreover, in 2020, fees for maintaining a positive account balance were introduced by banks, and, therefore, by way of granting the Loan the Issuer can reduce its account maintenance fees and fees for keeping its funds, and, at the same time, gain benefits from the Loan granted in the form of interest.
Moreover, the Issuer's Management Board obtained the Supervisory Board's consent to the conclusion of the Loan Agreement.
Bearing in mind that the Loan is a significant transaction with a related entity within the meaning of the Public Offering Act, the Issuer indicates that the Borrower is an entity related to the Issuer by the fact that the President of the Borrower's Management Board is simultaneously a Member of the Issuer's Supervisory Board and by the fact that the major shareholder of the Issuer is the controlling shareholder of the Borrower.
Legal basis: Art. 17, paragraph 1 of MAR - Inside information
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