Agreement with banks financing the Issuer's subsidiary on financial ratios
(Current report no. 3/2023)
31.01.2023 /Issuer/
Legal basis:
Article 17 sec. 1 MAR - confidential information
The Management Board of CCC S.A. (hereinafter: the Issuer) announces that the Issuer's subsidiary Modivo S.A. (hereinafter: the Company), in connection with credit agreements concluded with banks in the form of multipurpose credit limits (hereinafter: LKW),
i.e: with Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna with its registered office in Warsaw at ul. Puławska 15, 02-515 Warsaw (hereinafter: PKO BP SA) in connection with the credit agreement in the form of LKW dated 2 June 2021, about which the Issuer informed in current reports RB 14/2018 dated 2 May 2018, RB 32/2021 dated 2 June 2021, RB 49/2021 dated 2 August 2021 and RB 35/2022 dated 7 November 2022,
and with Bank Polska Kasa Opieki Spółka Akcyjna with its registered office in Warsaw at ul. Grzybowska 53/57, 00-844 Warsaw in connection with a loan agreement in the form of LKW dated 26 October 2017, which the Issuer reported on in current reports RB 51/2018 dated 16 November 2018, RB 29/2019 dated 10 May 2019, RB 22/2021 dated 30 April 2021, RB 6/2022 dated 29 April 2022, as well as factoring agreements with Pekao Faktoring Sp. z o.o,
has today received approvals for a one-off suspension of the testing of the Net Financial Debt/EBITDA ratio as at 31 January 2023.
The agreement with the banks was reached regarding the material deterioration of the macroeconomic environment and slowdown in consumer demand in 2022 (following the outbreak of war in Ukraine and rising inflation), affecting the performance of the multibrand e-commerce industry. The other provisions of the above-mentioned agreements remain unchanged.