16/2016 - Amendment to an agreement that results in exceeding the significant value

The Management Board of Trakcja PRKiI S.A. ("the Company") hereby announces that the Company was informed today about the bilateral signing of an Amendment to the Framework Agreement with mBank Spółka Akcyjna based in Warsaw ("the Bank"), which has increased the amount of guarantee line with guarantee limit granted to the Company by the Bank, from PLN 40,000,000.00 (say: forty million zloty) up to PLN 100,000,000.00 (say: one hundred million zloty), hereinafter referred to as: "the Agreement".

 

The line limit validity expiry date is 27 April 2027.

The period of use of the line limit is until 28 April 2017.

 

Collaterals:

1. submission of a blank promissory note with a promissory note declaration by the Company to the Bank,

2. assignment to the Bank of claims due to the Company for the work performed, in the amount of the guarantee granted,

3. partial cash deposit in the amount agreed with the Bank, required only for the guarantee for contractual guarantee obligations and performance bonds transforming into the guarantees for contractual guarantee obligations.

 

Other terms of the Agreement do not differ from contractual terms that are usually used for this type of agreement.

 

The criterion for deeming the Agreement a material agreement was the fact that the value of the Agreement exceeded 10% of Company's equity capital.

 

The Company also announces that in addition to the above-described Agreement, the Company, within recent 12 months, entered into contracts with a total value of PLN 9,742,709.08 (say: nine million, seven hundred and forty-two thousand, seven hundred and nine zloty, 08/100).

 

 

Legal basis for the report:

Section 5 paragraph 1 subparagraph 3 of the Regulation of the Minister of Finance of 19 February 2009 on current and periodic information published by issuers of securities and conditions for recognizing information required by laws of non-member states as equivalent. 

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