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25/2014 – Execution of an annex to a material credit agreement by a subsidiary

The Management Board of Trakcja PRKiI S.A. (“Company”), with reference to current report no. 1/2014 of 10 January 2014, hereby informs that today the Issuer’s subsidiary, AB Kauno tiltai in Kaunas (Lithuania), signed an annex (“Annex”) to a material credit agreement no. KL 06/03/01 of 30 March 2006 (“Agreement”).

 

The parties to the Agreement are the following:

  1. Nordea Bank AB (formerly Nordea Bank Finland Plc), acting via Nordea Bank AB Branch in Lithuania (formerly Nordea Bank Finland Plc Branch in Lithuania) and AB DNB bankas

and

  1. AB Kauno tiltai.

 

The Annex introduces a consolidated text of the Agreement. According to the current provisions of the agreement, AB Kauno tiltai was granted:

  1. Loan at EUR 6,208,875.82, i.e. 25,946,271.16;
  2. Credit line and credit line limit at EUR 18,000,000.00, i.e. PLN 75,220,200.00;
  3. Guarantee line and guarantee line limit at EUR 55,000,000.00, i.e. PLN 229,839,500.00.

The currency value was calculated according to the exchange rate announced by the National Bank of Poland, in force on the day of the Annex execution.

In addition, the Annex provides for the following time limits for credit repayment:

  1. 1 April 2017 for the loan of EUR 6,208,875.82 (formerly: 1 April 2016);
  2. 31 August 2016 for the credit line limit at EUR 18,000,000.00 (formerly: 31 August 2015);
  3. 31 August 2019 for the guarantee line limit at EUR 55,000,000.00 (formerly: 31 January 2018).

 

 Material terms and conditions of the Agreement do not differ from those commonly used for this type of agreements.

 

The criterion for considering the concluded Agreement as material is the fact that it exceeded 10% of the value of the Company's equity.

 

Legal basis: § 5 par. 1, point 3 of the Regulation of the Minister of Finance dated 19 February 2009 on the current and periodic disclosures to be made by issuers of securities and conditions for recognition as equivalent of information whose disclosure is required under the laws of a non-member state.

 

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