Conclusion of an annex to the credit agreement by the Issuer's subsidiary
(Current Report No. 29/2019)
10.05.2019 /Issuer /
Legal basis:
Article 17 item 1 of MAR - confidential information
The Management Board of CCC S.A. (hereinafter: the Issuer) hereby informs that today, i.e. 10 May 2019, the subsidiary of the Issuer, eobuwie.pl S.A. (hereinafter: the Company) with its registered office in Zielona Góra, received an annex signed on 9 May 2019 to a multi-purpose loan limit agreement as of 26 October 2017 with Bank Polska Kasa Opieki Spółka Akcyjna (hereinafter: the Bank) with its registered office in Warsaw at 53/57 Grzybowska Street.
This annex increased the credit limit up to a total of PLN 260,000,000.00, in words: two hundred and sixty million zlotys, 00/100 (the previous value of PLN 160,000,000.00), under which the Bank granted the Company a limit in the form of an overdraft facility to the total amount not exceeding 250,000,000.00 PLN (previous value: 150,000,000.00 PLN) and in the form of bank guarantees and letters of credit up to a total amount not exceeding PLN 20,000,000.00.
The agreement is secured by, among other things: contractual mortgage up to PLN 260,000,000.00 on a land plot located in Zielona Góra, for which the District Court in Zielona Góra, keeps a land and mortgage register number KW ZG1E/00118850/9, owned by eobuwie.pl Logistics Sp. z o.o. (a subsidiary of the Company) and a registered pledge on the Company's finished goods inventory with a value of at least PLN 260,000,000.00 (the highest security amount of 120% of the limit amount), and registered pledge on the belonging to eobuwie.pl Logistics Sp. z o.o. on a fixed asset - a sorter located in Nowy Kisielin (the highest security amount of 150% of the Limit amount) along with an assignment of rights under the insurance policy.
Other conditions do not differ from those commonly used for this type of agreements.
The Issuer's Management Board decided to publish the aforementioned information due to the significant value of contract.