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Current report no. 10/2013

An annex to a credit agreement

Legal basis
Article 56 section 1 point 1 of the Act on Public Offering - current and periodic information

Report content:

The Management Board of FOTA S.A. (the Issuer, the Borrower) hereby informs that, on this day, it has received an annex signed by Raiffeisen Bank Polska S.A. with its registered office in Warsaw (the Bank) to debt limit agreement no. CRD/L/10944/02 of 7th August 2002. The Annex is dated as at 30th April 2013. Pursuant to the provisions of the annex, a clause has been introduced in the agreement, pursuant to which in the event when credit limits are reduced in another bank, the Bank shall be authorised to reduce the value of the credit by the same amount. Moreover, as regards the securities established by the Borrower for the benefit of the Bank, the Annex introduces the following changes:

  • the previous assignment of liabilities under the factoring agreement has been extended to include the repayment of the other products covered by the debt limit granted to the Borrower,
  • new security has been established in the form of an assignment of the existent cash liabilities and such that may arise pursuant to hire purchase agreements between the Borrower and its customers.

The other significant provisions of the agreement have remained unchanged.

The criterion for considering the agreement as significant was the value of the subject of the agreement exceeding 10% of the Issuer's own capital.

The Management Board of FOTA S.A. informs that there are no connections between the Issuer and the Issuer's managing or supervising staff and the Bank.

Signatures of the persons representing the Company:

Paweł Gizicki – President of the Management Board

Adrian Smeja – Member of the Management Board

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