99/2013 - Information on the conclusion of material agreements
The Management Board of Trakcja S.A. (hereinafter referred to as the: "Company") hereby informs that the Company's subsidiary: Przedsiębiorstwo Robót Kolejowych i Inżynieryjnych S.A., with its registered office in Wrocław (hereinafter referred to as the: "PRKiI"), on 26 November 2013 executed annexes to the agreements for working capital facility with Bank Zachodni WBK Spółka Akcyjna, with its registered office in Warsaw (hereinafter referred to as the: "Bank"), about which the Company informed in current report no. 10/2012 of 30 March 2012.
By virtue of the annexes to the agreements for working capital facility, the Parties rescheduled the Repayment Date for 15 December 2013.
With the above in mind, the Management Board of Trakcja S.A. informs that on 27 November 2013, in order to ensure the funding of current operations, PRKiI concluded with BZ WBK Faktor limited liability company (hereinafter referred to as the: "Factor"), with its registered office in Warsaw, a factoring agreement (hereinafter referred to as the: "Agreement"), without risk transfer, of total value of PLN 31,250,000.00 (thirty-one million two hundred fifty thousand Polish zlotys 00/100).
On the basis of the aforementioned Agreement, the Factor renders factoring services by acquiring PRKiI debts at the time of their occurrence, without risk transfer.
The funding limit as provided for in the Agreement is PLN 31,250,000.00 (say: thirty-one million two hundred fifty thousand Polish zlotys 00/100).
Collateral:
- Blank promissory note agreement,
- Irrevocable power of attorney for PRKiI bank account,
- Mortgage up to PLN 37,500,000 (thirty-seven million five hundred thousand Polish zlotys 00/100) on fixed property in Wrocław Bieńkowice, for which the 4th Land and Mortgage Register of the District Court for Wrocław-Krzyki keeps land and mortgage register no. WRK/00181726/7,
- Registered pledge on Plasser&Theurer ballast cleaning machine and four transporters along with the assignment of rights from the insurance policy at AXA TUiR S.A. up to PLN 15,300,000 (fifteen million three hundred thousand Polish zlotys 00/100).
Factoring interest rates shall be calculated based on WIBOR 1M floating rate, increased by margin.
The Agreement does not provide for any liquidated damages.
In order to perform the Agreement, the Company has not concluded any other agreements with the Factor.
Other terms and conditions of the Agreement do not differ from commonly applied terms and conditions in case of similar types of agreements.
It was determined that the total value of agreements concluded by and between the Bank and PRKiI should exceed 10% of the value of the Company's equities.
Legal basis for submitting the report: Par. 5 sec. 1 point 3 of the 19 February 2009 Resolution of the Minister of Finance regarding current and periodic information published by issuers of securities and conditions for recognising as equivalent information required by the laws of a non-member state.
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